24.03.201115:39 Forex Analysis & Reviews: EUR/USD Bearish Outlook, March 24, 2011 (Daily Strategy)

Long-term review

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EUR/USD

The Euro-United States dollar pair from its record high at 1.4247 has been corrected to the 1.4050 level. At this moment it is negotiating on the price of 1.4130, The resistance level of 1.4200 and the 61.8% Fibonacci retracement line could serve as a short input signal to continue the trend that had started even the weekly support line around the 1.3750 level.

We mention that expectations about what near future increase interest rates in Europe, the pair relocated back to 1.4000, with a forecast of $ 1.4300 as strong resistance.

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