Technical analysis of EUR/USD for March 12, 2014




The EUR/USD pair stays above the 21EMA level in 4-hour chart, and remains in uptrend from 1.3477. The uptrend could be expected to continue after a minor consolidation, and the next target would be at 1.4000 area. Initial support is at 1.3825, and the key support is at the trend line, only a clear break below the trend line support could signal the completion of theuptrend. In the H4 chart, oscillators are giving a sell indication. We could expect the price to fall before it moves further. If the price breaks below the level 1.38509, it will fall up to 1.3834 1.38232 and 1.3799. More downside only below 1.3799 towards 1.3718.
Recommendations- Sell below 1.38509 targets1.3834, 1.3823, 1.3799 and 1.3718
Buy above 1.3877 targets 1.3898, 1.3915 and 1.40(above 1.3910 only further up move).


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