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EURUSD Daily Forecast: March 10

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03/09/2010 07:43

EURUSD Forecast:
The EURUSD attempted to push lower yesterday. Price slipped below the minor bullish channel, bottomed at 1.3537 but closed higher at 1.3600 and now back inside the minor bullish channel. This fact should keep the bullish correction intact and potential false breakdown scenario which could trigger upside momentum testing 1.3735/50 area. The bias remains neutral in both nearest and medium term as price still consolidation but the major trend should remain bearish as long as price move inside the major bearish channel. Note that only a clear break below the triple bottom formation at 1.3450/35 area could be seen as the end of the bullish correction scenario. Immediate support at 1.3530 area.

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History

03/09/2010
Daily Forecast for Crosses: March 10
03/09/2010
GBPUSD Daily Forecast: March 10
03/09/2010
USDJPY Daily Forecast: March 10
03/09/2010
USDCHF Daily Forecast: March 10
03/09/2010
EUR/USD Daily Review 09 March 10

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