March 9 2010, (GMT +7,Jakarta, Bangkok and Hanoi Time)
Until this analysis is published, the financial condition of Europe is still uncertain, Portugal followed a similar policy in Greece on austerity path (source: reuters.uk), this will make EURO continued depressed level to 1.35, but before the economic development of the USA, EURO will persist at lower levels from 1.36 to levels above 1.35 There is likely to rise, if there is bad news in the USA, and most likely will come down, if there are recent positive policy of the USA economy. So the position of EUR / USD will be in the highest range in the resistance-2 to the lowest in support-1 or even support-2
PIVOT
R-4 1.3831
R-3 1.3789
R-2 1.3746
R-1 1.3690
pivot 1.3647
S-1 1.3591
S-2 1.3548
S-3 1.3492
S-4 1.3435
My recommendations:
BUY@1.3646 SL@1.3619 TP1@1.3699 TP2: 1.3721
SELL@1.3620 SL@1.3646 TP1@1.3590 TP2: 1.3575
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