EUR/USD forecast for the week of March 4, 2013, Technical Analysis
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The EUR/USD pair trying to break above the 1.3250 level during the week, but as you can see absolutely plummeted after that. The 1.30 level was actually pierced on Friday, but the market bounced back above that in order to close about 25 pips above the handle. The market looks like it’s trying to fall bit further, but there is quite a bit of noise below the 1.30 handle, and this of course will make selling this market fairly difficult. In fact, if there is a place that we could see support comes back into play, its right where we are. With that being the case, we feel there are no long-term trades being shown to us in this market presently.
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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.
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