Forex4you Technical Analysis 21 March 2012

EUR/USD: Technical Analysis

The EUR/USD pair has reached a band of resistance and a zone where it has been repelled several times before at the recent highs around 1.3275. It has posted a hanging-man candlestick at these highs on the 4-hourly chart and it is possible that this may signal a reversal and a fall from there back down to the range lows at 1.3000, although that target is quite far off and it is more likely it will fall to a nearer target at 1.3115 support instead.

Analysis by: Joaquin Monfort
                    Forex4you analyst

Disclaimer:
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.