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EUR/USD Classical 03.10

EUR/USD Classical 03.10

2011-03-10 07:10:00
Joel Kruger, Technical Strategist
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EURUSD_Classical_body_eur.png, EUR/USD Classical 03.10

EUR/USD:The market is looking really top heavy and rallies look to have stalled out for now by 1.4035, with the formation of a short-term top. The key levels to watch now come in by previous resistance and the 10-Day SMA by 1.3860 and 1.3880 respectively, and a daily close below these levels will likely accelerate declines towards next key support in the lower 1.3700’s. Any intraday rallies are now expected to be well capped ahead of 1.3950.

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

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