The market saw the EUR/USD pair shoot straight up during the Tuesday session as the rumors of a Greek bailout agreement hit the markets (again) during the session. The agreement wasn't done before the end of the session, and the markets could be disappointed. However, it appears that the market is ready to take the bait again, so the next move could be higher.
The 1.32 level has been breached, and now the next resistance area is at the 1.35 level, assuming we can move forward from this level. The pair is going to be prone to headline risks, and as a result - traders will have to keep their stops tight if they buy it. The market looks bullish at the time of writing however, and all things being equal - this pair continues higher.
EUR/USD Forecast February 8, 2012, Technical Analysis
EUR/USD Pivot Points (Time Frame: 1 Day)
Name S3 S2 S1 Pivot R1 R2 R3