fxpulsation
Posts : 8759
Join date : 2012-01-25
 |  Subject: EUR/USD Daily Outlook  Tue Mar 19, 2013 9:27 am | |
| EUR/USD Daily Outlook Daily Pivots: (S1) 1.2892; (P) 1.2944 (R1) 1.3006; More.... Near term outlook in EUR/USD stays bearish with 1.3106 minor resistance intact. Current fall from 1.3710 is still in progress and would extend to test on 1.2661 key support level next. Break of 1.3106, though, will indicate short term bottoming and bring rebound. In the bigger picture, current development mixed up the outlook in EUR/USD with major question on whether rebound from 1.2042 has completed at 1.3710. Note that as long as 1.2661 support holds, such rebound could still extend above 1.3710 to 1.4939/5143 resistance holds. However, break of 1.2661 will confirm completion of such rebound. And more importantly, the corrective three wave structure will then indicate that deeper medium term weakness would be seen for a new low below 1.2042.  | |
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