The EUR/USD pair fell for most of the session on Wednesday to test the 1.30 support level. The area is actually a 200 pip thick zone, and as such we don't consider it broken until we get below the 1.29 handle. The Euro has an amazing ability to completely ignore bad news, so we are cautious about this market at the moment. A daily close sub-1.29 will be needed to short it going forward. If we see a bounce, we prefer selling, but only after the pair stalls, perhaps at the 1.3250 level. Until we get one of these signals, we can hold tight.

EUR/USD

EUR/USD Forecast March 15, 2012, Technical Analysis

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

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
1.2913
1.2958
1.3001
1.3046
1.3089
1.3134
1.3177

 Fibonacci
1.2958
1.2992
1.3013
1.3046
1.3080
1.3101
1.3134

 Camarilla
1.3020
1.3028
1.3036
1.3046
1.3053
1.3061
1.3069

 Woodie's
-
1.2958
1.3000
1.3046
1.3089
1.3134
-

 DeMark's
-
-
1.3068
1.3035
1.2980
-
-