Technical analysis of EUR/USD for March 11, 2014

EUR/USD's upward movement from 1.3477 extended to as high as 1.3915. Key support is at the upward trend line in 4-hour chart. As long as the trend line support holds, the uptrend could be expected to continue after a minor consolidation and next target would be in the 1.4000 area. In the H4 chart, oscillators are giving a sell indication. We could expect the price to come down before it moves further. Only a clear break below the trend line support could signal the completion of the uptrend.

Recommendations-

Sell below 1.3852 with targets at 1.3844, 1.3834, 1.3811, and 1.3778.

Buy above 1.3898 with targets at 1.3915 and 1.40.