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EUR/USD Classical Technical Report 03.01

EUR/USD Classical Technical Report 03.01

2012-03-01 08:34:00
Joel Kruger, Technical Strategist
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Daily_Classical_EURUSD_body_eur.png, EUR/USD Classical Technical Report 03.01

EUR/USD: The latest failure ahead of 1.3500 and subsequent break back below 1.3350 could now warn that a lower top is finally in place ahead of the next major downside extension below the 2012 lows by 1.2620. Look for a sustained break below 1.3350 to confirm bearish outlook, while back above 1.3450 delays. Next key support now comes in by the 1.3200 area, below which exposes 1.3000.

--- Written by Joel Kruger, Technical Currency Strategist

To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger

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