Spot EUR/USD Forecast for 03/11 by Daytradeideas.com

  on March 11 2013 8:43 AM

EURUSD got to with in 10 pips of the next target at 1.3145 which was expected to hold the topside. 1.2965 support did just about hold again as hoped. A break today however cannot be ruled out in this own trend & should target 1.2890/80 & if this fails we should test the 200 day MA at 1.2860. We will be watching for a bounce in this area today.A move higher runs in to resistance at 1.3041. If we manage a push through here look for 1.3094, possibly a retest of 1.3134/37 which would be expected to cap a move to the upside again today.

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Long term levels1.3711      2013 High1.3525      200 Week Moving Average1.3486      2012 High1.3327      100 Week Moving Average1.3134      Last week’s high1.3127      100 Week Moving Average1.2955      Last week’s Low1.2877      50% Fibonacci1.2860      200 Day Moving Average

 

The article was first published by DayTradeIdeas.com

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