March 28, 2012

EURUSD Chart analysis

  • EURUSD has broken out of the inverted head and shoulders and is moving into a stiff resistance zone.
  • Break above 1.3385 should take price towards the 200 SMA and the resistance line. Daily candles need to close above these levels for EURUSD to continue the current up move.
  • Falling below 1.3280 will favor a bearish trade on this pair.

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