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EUR/USD Classical 03.24

EUR/USD Classical 03.24

2011-03-24 06:46:00
Joel Kruger, Technical Strategist
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EURUSD_CLassical_body_eur.png, EUR/USD Classical 03.24

EUR/USD:The market has stalled out for now ahead of the key November 2010 highs by 1.4280 and is in the process of a correction. At this point, the pullback can only be classified as short-term corrective weakness and ultimately, only a break back below 1.3750 would be required to negate this structure. In the interim, look for a fresh higher low to carve out somewhere ahead of 1.3800 in favor of the next upside extension towards 1.4280.

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

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