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EUR/USD Classical 03.12

EUR/USD Classical 03.12

2010-03-12 06:31:00
Joel Kruger, Technical Strategist
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eur2

EUR/USD:  However, it is still too difficult to call and the market could just as easily be in the process of a bearish consolidation ahead of the next major downside extension below 1.3440. A break back below 1.3440 will expose a test by next psychological barriers at 1.3000, while a close back above 1.3700 delays and opens the door for some additional short-term corrective upside.

 

Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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