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Forex4you Technical Analysis 06 March 2013

EUR/USD: 'pulling-back'

EUR/USD pair is still recovering but less aggressively than it did yesterday. This morning's activity has been mixed and it is possible it will continue sideways. If we get a break above the key 1.3100 level then there is a chance of a rally up to the top of the channel at around 1.3140-50. The rebound is probably just a pull-back and the down-trend should resume eventually and probably reach the target from the head and shoulders top at 1.2900.

Analysis by: Joaquin Monfort
Forex4you analyst

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