Forex4you Technical Analysis 01 March 2011

EUR/USD: Technical Analysis

Level 1.3850 proved its status of the key resistance on the way up. The price stopped at this barrier and began consolidating within the range 1.3850-1.3780. Indicators, however, are turned upwards, which gives reasons to expect further growth, probably to level 1.3900/10. It's also worth considering a possibility of a pull back from the current levels as well. Decline below support at level 1.3720/10 will indicate cardinal changes in the market moods.



Analysis by: Arkady Nagiev
                   Forex4you analyst

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