EUR/USD Forecast for the Week of March 12, 2012, Technical Analysis

Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

The EUR/USD pair fell for the week as the markets continue to worry about the various debt markets around the region. The late hours of Friday finally saw the Greeks officially called to be “in default”, but by the time it happened: there was almost no reaction as the market largely expected this.

The shooting star for the week shows that we may see continued weakness, and we are in a downtrend channel. The 1.30 level below seems to be supportive tough, so we are looking for a daily close below that level in order to get short. This buying of this pair isn’t even a thought at the moment, and if we get a bounce from this area we will look to see if we get weakness at the 1.35 level. 

EUR/USD Forecast for the Week of March 12, 2012, Technical Analysis

EUR/USD Forecast for the Week of March 12, 2012, Technical Analysis

Want to read more articles like this one?
Enter your e-mail address and read FX Empire content directly from your inbox.
 
We value your privacy. Your e-mail address will not be shared.
About: FX Empire Analyst - Christopher Lewis

Christopher is a part of the FXEmpire.com analysis team. He writes Forex and Commodities technical analyses on daily and weekly basis. Christopher writes his analyses in a professional and yet simple to understand manner. His analyses are available in both text and videos.

  View all of FX Empire Analyst - Christopher Lewis's Articles    
Share Your Thoughts: Post a Comment


Your email address will not be published.