The EUR/USD pair shot straight up on Monday as the Greek debt talks are supposed to be doing fairly well behind the scenes. The risk on trade came back, and the EUR/USD rises as a result. The 1.30 level is a massive zone that will provide resistance, and we think that a break of that isn't realized until we see the 1.31 closed above on the daily chart. We are waiting for just that to buy this market. On the other hand, the trend is down and we are willing to sell weak candles in this immediate area as it is with the trend.

EUR/USD

EUR/USD Forecast January 24, 2012, Technical Analysis

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

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
1.2793
1.2852
1.2935
1.2994
1.3077
1.3136
1.3219

 Fibonacci
1.2852
1.2906
1.2940
1.2994
1.3048
1.3082
1.3136

 Camarilla
1.2979
1.2992
1.3005
1.2994
1.3031
1.3044
1.3057

 Woodie's
-
1.2858
1.2947
1.3000
1.3089
1.3142
-

 DeMark's
-
-
1.3107
-
1.2965
-
-