April 1st, 2009

EURUSD’s corrective rise from the March 4, 2009 low of 1.2455 is complete at the March 19, 2009 high of 1.3738 with Monday’s daily open and close below 1.3248.  Risk for further intraday downside extension remains while the 38.2 of the 1.3738 -1.3113 intraday fall at 1.3352 caps.  Above 1.3352 intraday will see further rise towards 1.3425 while sustained prices below 1.3200 suggest further downside extension.  For the session ahead, look to EURUSD to continue to move lower with 1.3097 as the initial target, while above 1.3352 will see prices continue to move higher initially towards 1.3425.  

More updates later.