EUR/USD Classical 03.14
EUR/USD:Despite the latest recovery back above 1.3900, we would not get overly bullish at current levels, with the market stalling out by the 78.6% fib retrace off of the latest 1.4035-1.3750 move just ahead of 1.4000. We would recommend looking to see how the market settles on Monday for a clearer directional bias. Inability to close back above 1.4000 would once again open the door for a potential pullback towards and eventually below 1.3750, while a close back above 1.4000 would most likely open the door for a full retracement back to the November 2010 highs by 1.4280
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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