The EUR/USD pair fell again for the Tuesday session as the Federal Reserve failed to suggest that further quantitative easing is on the way. This strengthened the Dollar, and the Euro took it hard. The 1.31 level has been the start of serious support, and this level goes all the way down to the 1.29 level to form a super cluster of buyers. This pair remains bearish overall, but it is going to take something a bit special to break it down at this point. Because of this, we are flat until we get a daily close below the 1.29 level, at which time we would sell. Rallies can be sold as well, on the first signs of weakness.

EUR/USD

EUR/USD Forecast March 14, 2012, Technical Analysis

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

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
1.2844
1.2937
1.2990
1.3083
1.3136
1.3229
1.3282

 Fibonacci
1.2937
1.2993
1.3027
1.3083
1.3139
1.3173
1.3229

 Camarilla
1.3003
1.3017
1.3030
1.3083
1.3057
1.3070
1.3084

 Woodie's
-
1.2927
1.2971
1.3073
1.3116
1.3219
-

 DeMark's
-
-
1.3110
1.3070
1.2964
-
-