March 22nd, 2010

EURUSD’s fall from the January 13, 2010 high of 1.4579 remains active as ONLY a daily open and close above 1.3871 will complete this fall while the March 2, 1010 low of 1.3433 holds. Prices reached 1.3817 last week as this was a few pips shy of the our 1.3878 target sited in our March 1, 2010 update. As to the short fall from the March 17, 2010 high of 1.3817, this fall remains active as ONLY a 2 hour open and close above 1.3623 will complete this fall. For the week ahead, look to sell EURUSD within the 1.3622-1.3660 zone for 1.3433 initial target.