EUR/USD Forecast for the Week of March 5, 2012, Technical Analysis
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EUR/USD fell hard during the previous week. The pair took back all of the gains from the week before, and it looks as if the 1.35 level will continue to push prices down. However, the candle from three weeks ago shows a hammer down to the 1.30 level. The area should be significant support, and we could see the area produce some kind of supportive candle, and that would be a buy signal, albeit on the short term. As for the long term, this pair is simply far too choppy for longer term investors to be bothered with.
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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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