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EUR/USD Classical 03.25

EUR/USD Classical 03.25

2011-03-25 04:34:00
Joel Kruger, Technical Strategist
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EURUSD_Classical_body_eur.png, EUR/USD Classical 03.25

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 consolidating. At this point, the price action can only be classified as a bullish consolidation and ultimately, only a break back below 1.4050 would threaten this structure. In the interim, look for a fresh higher low to carve out, in favor of the next upside extension beyond 1.4280. A daily close back below 1.4050 delays.

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

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