Friday, March 19, 2010

Eur/Usd Outlook Mar 22-26

Eur/Usd continued moving within it's range between 1.3400 and 1.3800 since February. On Mar 17th it failed to break above 1.3800 and fell harder the next day.
Eur/Usd is the most bearish currency pair of all. Economic news out of Europe are not strong enough to move this currency higher or break above it's current range. Greek debt crisis is also hurting euro.

We will see how it unfold next week. We did few good trades shorting Euro from it's high. We are bearish on Euro but will be careful as it is coming closer to it's support at 1.34 and also near it's 61.8% fibo support area at 1.3484.

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