The EUR/USD pair fell hard during the session on Friday as Spain announced it wasn't going to meet the agreed upon budget measures that it signed with the EU. The worse than expected outcomes could be the first chink in the armor of the EU solutions, and this spooked the markets. The 1.3250 level gave way, and we thought that might have been supportive. However, we are in the middle of a big cluster at the moment, so support can be found anywhere between current levels and the 1.30 mark. With this in mind, we aren't ready to sell now. We would be interested in buying supportive daily candles, simply because the pair refuses to fall for long. However, we are net flat at the moment.

EUR/USD

EUR/USD Forecast March 5, 2012, Technical Analysis

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

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
1.3031
1.3108
1.3154
1.3231
1.3277
1.3354
1.3400

 Fibonacci
1.3108
1.3155
1.3184
1.3231
1.3278
1.3307
1.3354

 Camarilla
1.3165
1.3176
1.3188
1.3231
1.3210
1.3222
1.3233

 Woodie's
-
1.3100
1.3137
1.3223
1.3260
1.3346
-

 DeMark's
-
-
1.3254
1.3220
1.3131
-
-