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  4. Technical Analysis: EUR/USD 2012.03.19

Technical Analysis: EUR/USD 2012.03.19

March 19, 2012 10:19

  The pair broke back above the 50-Day SMA and almost reached the 100-Day SMA by 1.3210. A break and consolidation above this level would confirm additional gains towards the 1.3485 resistance or higher ahead of the 200-Day SMA by 1.3635. Otherwise, we could see a new drop to 1.3000, with a break and consolidation below to confirm the bearish bias and accelerate declines ahead of the 1.2625 low.    

Edward Smith, technical analyst of company Admiral Markets.

At any use of the analytical material taken from a site of company Admiral Markets, and the secondary publication on any other resources, the rights to intellectual property for a dealing centre «Admiral Markets», the reference to a company site is obligatory.

 

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