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EURUSD Daily Forecast: March 09

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03/08/2010 06:25

EURUSD Forecast:
The EURUSD attempted to push higher yesterday, topped at 1.3703 but closed lower at 1.3632. The bias is neutral both in nearest and medium term as price still consolidating. The bullish correction scenario after rejection from 1.3450/30 (triple bottom) remains intact as price still move inside the minor bullish channel with 1.3750 � 1.3850 as corrective target but still in a major bearish scenario. Immediate support at 1.3580 area. Break below that area could trigger further bearish momentum re-testing 1.3450/35 area but only clear break below 1.3450/35 area can be seen as bearish continuation confirmation targeting 1.3100 area.

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History

03/08/2010
Daily Forecast for Crosses: March 09
03/08/2010
GBPUSD Daily Forecast: March 09
03/08/2010
USDJPY Daily Forecast: March 09
03/08/2010
USDCHF Daily Forecast: March 09
03/08/2010
EUR/USD Daily Review 08 March 10

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