EUR/USD fell slightly during the Thursday session, but just barely. The pair continues to hover between the 1.35 and 1.3250 levels, and the session on Thursday was a perfect example of indecision as it formed a doji. With all of this in mind, we think this is a short-term pair at the moment, and defined by those two boundaries. Selling at the 1.35 neighborhood is possible, and buying near 1.3250 is as well. The two levels are also Fibonacci levels, and the 200 day EMA is just above where we saw the last pullback. Because of this, we have a bit of a downward bias longer-term, but the consolidation area has to be respected in the meantime.

EUR/USD

EUR/USD Forecast March 2, 2012, Technical Analysis

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

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
1.3164
1.3215
1.3248
1.3299
1.3332
1.3383
1.3416

 Fibonacci
1.3215
1.3247
1.3267
1.3299
1.3331
1.3351
1.3383

 Camarilla
1.3258
1.3266
1.3273
1.3299
1.3289
1.3296
1.3304

 Woodie's
-
1.3211
1.3239
1.3294
1.3323
1.3378
-

 DeMark's
-
-
1.3316
1.3291
1.3232
-
-