Forex4you Technical Analysis 25 March 2011

EUR/USD: Technical Analysis

The trend reversed yesterday and began rising. It will probably continue up as the 0.0015 box chart’s uptrend is intact and is still showing an upside target of 1.4385. However, the smaller 0.0005 box chart affords a more achievable target of 1.4265. It is quite possible that the exchange rate will continue to rise to that level.

http://forex4you.ninjacdn.net/charts/EURUSD250311.png

GBP/USD: Technical Analysis

The price continued to decline and the "bears" managed to breach the 1.6140/50 – 1.6100 support range, which is the key one on the way down. At the moment the price resides at level 1.6080/70. Indicators suggest a down trend, which gives enough reason to expect further "bearish" development. In this case, previous forecast may come true and the price will eventually fall to 1.5980/1.6000 level, as soon as 1.6140/50 – 1.6100 range is breached. Should the price breach and hold above 1.6270/60 level, we'll be anticipating a reversal to growth.

Analysis by: Arkady Nagiev
Forex4you analyst

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