EUR/USD rose during the session on Friday as the market tried to rally on all things risky. However, there is a massively important meeting in Europe on Monday that will decide whether or not the Greeks get their bailout. Perhaps it was a fear that headlines could come into the market and wreak havoc on the pair that caused the selloff, or perhaps it is real weakness. Either way, this pair looks like it wants to fall. However, the 1.30 level below extends support down to the 1.29 mark, and that will have to be overcome for any down move to pick up a momentum. As far as buying the pair will need to overcome the 1.3250 level for us to get long at this point. In the meantime, expect a lot of noise.

EUR/USD

EUR/USD Forecast February 20, 2012, Technical Analysis

EUR/USD Pivot Points (Time Frame: 1 Day)

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
1.3140
1.3156
1.3178
1.3194
1.3216
1.3233
1.3254

 Fibonacci
1.3156
1.3171
1.3180
1.3194
1.3209
1.3218
1.3233

 Camarilla
1.3189
1.3193
1.3196
1.3194
1.3203
1.3206
1.3210

 Woodie's
-
1.3158
1.3180
1.3196
1.3218
1.3234
-

 DeMark's
-
-
1.3224
1.3199
1.3186
-
-