The EUR/USD pair rose during the session on Friday as the 1.30 level continues to offer strong support in this pair. The bullish sentiment in the Euro will more than likely be short-term at best, and rallies will continue to be treated with suspicion going forward. The 1.3250 level will offer resistance as well as the 1.35 level. The market still has a lot of questions about various places in Europe, so on the margin, we want to be short of this pair. However, at these levels we are closer to support than resistance, so we will wait for what looks like an inevitable bounce.

EUR/USD

EUR/USD Forecast March 19, 2012, Technical Analysis

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

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
1.3161
1.3167
1.3173
1.3179
1.3185
1.3191
1.3197

 Fibonacci
1.3167
1.3171
1.3174
1.3179
1.3183
1.3186
1.3191

 Camarilla
1.3175
1.3176
1.3177
1.3179
1.3180
1.3181
1.3182

 Woodie's
-
1.3167
1.3173
1.3179
1.3184
1.3191
-

 DeMark's
-
-
1.3182
1.3177
1.3170
-
-