Euro vs US Dollar 23.03.2015

Forex Technical Analysis 23.03.2015 EUR USD

FXTM Online Analysis Department.

EUR USD, “Euro vs US Dollar”

At the daily chart, Eurodollar is trying to start an ascending wave, or a correction at least. However, the pullback towards level of 1.1000 makes this scenario very questionable; if the pair reaches .a new low, this structure will be considered as the central

 part of a downside continuation pattern. We think, this week the price may form a consolidation channel between the current highs and lows. If the market breaks this channel upwards, the correction may continue; if downwards – continue falling inside the downtrend.