Intraday technical levels and trading recommendations for EUR/USD for March 3, 2014
Successive ascending bottoms are being established on the daily chart. This means the uptrend line established on September 2013 is still intact. The ongoing bullish impulse is probably targeting at 1.3900 corresponding to 100% Fibonacci Expansion. The pair failed to reach this price level on the previous attempt that took place on December 2013. As long as the bulls are defending the recent bottom at 1.3630, the EUR/USD pair remains bullish on the intermediate prospective. On the other hand, breakdown of 1.3600-1.3630 invalidates the bullish scenario which is least likely to occur based on the fundamental statement given by Mario Draghi which is quite optimistic about the European situation and its limited relation to the crisis of the Ukrainian economy. The material has been provided by InstaForex Company – http://ift.tt/1pWPPsY;
Successive ascending bottoms are being established on the daily chart. This means the uptrend line established on September 2013 is still intact.
The ongoing bullish impulse is probably targeting at 1.3900 corresponding to 100% Fibonacci Expansion.
The pair failed to reach this price level on the previous attempt that took place on December 2013.
As long as the bulls are defending the recent bottom at 1.3630, the EUR/USD pair remains bullish on the intermediate prospective.
On the other hand, breakdown of 1.3600-1.3630 invalidates the bullish scenario which is least likely to occur based on the fundamental statement given by Mario Draghi which is quite optimistic about the European situation and its limited relation to the crisis of the Ukrainian economy.
The material has been provided by InstaForex Company – www.instaforex.com
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Intraday technical levels and trading recommendations for EUR/USD for March 3, 2014
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