The bearish channel which started since the first of December 2008 at the levels of 1.51400 and reached the bottom at 1.34350, confirms that the decline is still in place for the pair euro against the U.S. dollar to close at 1.3000 Initially, the resistance levels of 1.37350 and 1.38000 are very important to confirm our expectations, it should not be penetrated it to keep our expectations of the pair to descend further to our targets.
Well, the EUR/USD, has been having rather mixed reactions and continues to remain within its consolidation phase as the highly traded pair has been unable to rise toward last Wednesday’s highs of 1.3735 in the forex trading arena.
EUR/USD Outlook 4/03/2010 of FXCBS
Linear Mode
