Analysis for EURUSD 08 – 12 Mar 2010

Previous Week 22-26 Feb

O: 1.3628 H: 1.3691 L: 1.3450 C: 1.3615

Last Week 01-05 Mar

O: 1.3638 H: 1.3736 L: 1.3433 C: 1.3620

Weekly

Daily

Hourly

Expected for the week

• We saw another rangy week for EURUSD with no clear direction (3 weekly dojis)
• On the weekly, it is still a downtrend but on the hourly, it looks this pair does not want to break below 1.3531 for a push down.
• It also has a hard time closing above the 1.37 levels for us to see a higher high for the week.
• The hourly is too messy and clearly, we are not seeing any pattern.
• The best thing to do is to wait for specific levels and keep tight stop losses.
• Just be mindful of any news coming out from Europe though as we do have Trichet speaking over the week.
• Resistance: 1.3650, 1.3712, 1.3745, 1.3800, 1.3894
• Support: 1.3620, 1.3531, 1.3428, 1.3388

Fundamentals:

Mon – 7pm +8GMT Wed – EUR/NY Thu –NY Fri –EUR/NY