FX.co ★ EUR/USD weekly technical levels for March 18-22, 2013

Weekly technical levels:

Forecast:

It should be noted that we got a weekly pivot point at the level of 1.3030. In addition, a gap has opened below the weekly pivot point. Therefore, the market will probably indicate a bearish opportunity at the level of 1.3030 and the gap will act as a strong resistance. Thus, according to the previous events, the price has still been below 1.3030. Thenceforward, below 1.3030 (61.8% of Fibonacci retracement levels) look for further downside with 1.2870 and 1.2830 targets. However, stop loss should be placed above 1.3055.

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