By FX Empire.com
EUR/USD shot straight up again during the Friday session as the markets continue to short cover the market that has been so heavily short for so long. The pair looks like it found serious resistance in the 1.35 area, and it should be said that the area we find ourselves in at the moment is the 50% Fibonacci retracement from the fall last year. The pair will find itself at a crucial point now, and we are waiting to see if the daily chart can close above the 1.35 handle in order to buy. If not, we will sell weak candles at this area, looking for a pullback to the 1.33 level.
EUR/USD Forecast February 27, 2012, Technical Analysis
Originally posted here
