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Forex4you Technical Analysis 28 March 2012

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EUR/USD: Technical Analysis

The EUR/USD pair is trading in a sideways range with a correction down within that range currently underway. This move may continue to the range lows at the 1.3315 support and resistance level. From there, there could be a bounce or a break down as the double top pattern translates into a reversal. If the current rally continues then a retouch of the 1.3380 highs is also possible.

EURUSD280312.png

Analysis by: Arkady Nagiev

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.

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