empty
 
 
01.03.2011 10:53 AM
EUR/USD Monthly Forecast for March 2011

This image is no longer relevant

MONTHLY  OUTLOOK :

On monthly charts the pair has formed the Descending Triangle pattern, which indicates that the market looks confused about the situation now and this means the EUR/USD is a little bit drained out of volatility and the RSI (14) is betwen the 60 and the 40 levels too (it means sideways situation for this pair), however please pay attention to the breakout of this pattern, ussually it can cause a significant movement. For this month, if this pair can break out above the previous high at 1.3856, the spot rate will advance to at least the 1.3965 level as the first target and 1.4281 as the second target. On the other hand, if this pair can break out below the 1.3641 level, this will cause the pair to go down again to the 1.3589 level as the first target and the 1.3427 level as the second target.

 

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback