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EUR/USD Technical - 03/March
Written by Praful Patat   
Thursday, 03 March 2011 05:50

EURUSD tested 1.3892 projection yesterday. Now EURUSD will retrace for further going up side, retrace at 1.3751, 1.3664. EURUSD break of 1.3895 further going up side 1.3922 daily resistance, Which is Fib No. 74.6% from 1.4280 to 1.2868. If EURUSD will back from 1.3922 level then will come down to 1.3521, 1.3273 in bigger range. EURUSD will retrace like flag pattern (price go down slowly).
Strategy: Sell at 1.3860, 1.3922 area target 1.3760, 1.3670 with stop loss 1.3978
New High:  1.3878, 1.3951, 1.3939.
New Low:  1.3731, 1.3804, 1.3792.
R3-1.3858, R2-1.3923, R1-1.3888, PP-1.3832, S1-1.3776, S2-1.3741, S3-1.3685.

EURUSD tested 1.3892 projection yesterday. Now EURUSD will retrace for further going up side, retrace at 1.3751, 1.3664. EURUSD break of 1.3895 further going up side 1.3922 daily resistance, Which is Fib No. 74.6% from 1.4280 to 1.2868. If EURUSD will back from 1.3922 level then will come down to 1.3521, 1.3273 in bigger range. EURUSD will retrace like flag pattern (price go down slowly).  

Strategy: Sell at 1.3860, 1.3922 area target 1.3760, 1.3670 with stop loss 1.3978

New High:  1.3878, 1.3951, 1.3939.

New Low:  1.3731, 1.3804, 1.3792.

Pivot:

R3-1.3858,

R2-1.3923,

R1-1.3888,

PP-1.3832,

S1-1.3776,

S2-1.3741,

S3-1.3685.