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EUR/USD Classical 03.23

EUR/USD Classical 03.23

2010-03-23 06:38:00
Joel Kruger, Technical Strategist
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EUR/USD: It is very difficult to call where we go from here, with the latest topside rejection above 1.3800 suggesting a bearish consolidation, while Monday’s failure to break to fresh 2010 lows has now set up a bullish daily close and potential push back towards the range highs. Ultimately, we retain a bearish bias and see an eventual break below 1.3435 exposing the next major downside extension to 1.3000, but at this time we recommend that traders remain sidelined and wait for a clearer shorter-term signal.

 

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