Swing Trade Ideas For EURUSD March 20, 2012


Update 1 (02:25 GMT): The trend is unclear at the moment. The manner with which 1.3180 was breached yesterday shows that the bulls are in power. However, the price hardly moved further upwards and the current bullishness was absorbed in the 1.3260 to 1.3280 price range. These levels should be pierced with further conviction for the bullishness to sustain. Until then, it is field days for the scalpers since the price movement will be small and rangy.

Level Technical Significance
1.3357 Daily High Mar 1
1.3333 Daily High Mar 2
1.3291 Daily High Mar 8
1.3279 Daily High Mar 9
1.3227 02:20 GMT TUE 20 MAR
1.3187 Daily High Mar 16
1.3137 10-Day MA
1.31 Psychological Level
1.3049 Daily Low Mar 16

Update 2 (10:37 GMT): As cited in the early morning update, the bullishness is slowly fading. However, 1.3200 being an important psych level and 1.3180 being an important support point (as of now), there is a small possibility for a reversal in the trend.

Level Technical Significance
1.3333 Daily High Mar 2
1.3291 Daily High Mar 8
1.3279 Daily High Mar 9
1.3266 Daily High Mar 19
1.3198 10:30 GMT TUE 20 MAR
1.3153 10-Day MA
1.3142 Daily Low Mar 19
1.3118 30-Day MA
1.31 Psychological Level

Price levels provided by Thomson Financial

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