EUR/USD Forex Technical Analysis 7th of March 2014

 

The EUR/USD shared currency pair has started registering a strong movement in the vicinity of the 1.4000 level this occurred mostly because of the lack of interest of the European Central Bank in transmitting and fiscal measures.

 

Many analysts that it’s too late for the Euro to gain any ground in front of the USD because across the ocean the United States Non Farm figures are ready to hit the lime light.


Traders continue to believe that the Mr. Draghi attitude towards this problem was very sharp mentioning that a 10% exchange rate would decrease by a small value of 0.5 points the inflation rate.

 

For now at least the EUR/USD “fiber” currency pair is up by a positive value of +0.33% in the close vicinity of the 1.3903 level showing some strong resistance points starting with the 1.4000 level followed close by the 1.4172 level and ending with the 1.4200 point.

 

On the other side of the coin by breaching the 1.3721 level this would definitely open the path towards the 1.3707 level and ending with the “desired” 1.3694 point.

 

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High = 1.3917  chart355

 

Low = 1.3856

 

 

S3 = 1.3721    S2 = 1. 3755     S1 = 1.3789  pricing QR code

 

R1 = 1.3945    R2 = 1.3978     R3 = 1.4011

 

SCAN THIS CODE FOR MORE INFORMATION >>>>

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