EUR/USD rose overall during the Tuesday session as the pair initially fell in trading. The market fell to sub-1.30 level, and then turned around as support came back into the fold at the area. However, the area isn't broken to the upside yet as long as we don't see a daily close above the 1.31 level. The area is a wide band of interest in the markets, and this range could cause problems. The candle forming a hammer does look supportive and bullish, but we have to be patient as the area is still intact. The breaking of the bottom of this candle would be a massive sell signal while a post-1.31 level signals a buy. Until we get one or the other - we are flat.

EUR/USD

EUR/USD Forecast January 25, 2012, Technical Analysis

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

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
1.2854
1.2904
1.2965
1.3015
1.3076
1.3126
1.3187

 Fibonacci
1.2904
1.2946
1.2972
1.3015
1.3057
1.3083
1.3126

 Camarilla
1.2996
1.3007
1.3017
1.3015
1.3037
1.3047
1.3058

 Woodie's
-
1.2907
1.2972
1.3018
1.3082
1.3129
-

 DeMark's
-
-
1.3101
-
1.2990
-
-