EURUSD Update:

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[B][U]EURUSD Update:

Daily Chart: ‘Inverted Hammer’ in EURUSD[/U][/B]

On the 17th of March we saw the formation of an ‘inverted hammer’ on the EUR / USD daily chart. The price reached a high at 1.3817 on this day but failed to close above 1.3800. The market has since reversed sharply falling to a 3 week low of 1.3463 on Monday the 22nd March. We will remain short, as the pair looks set to test the lows at 1.3434 reached on the 2nd of March. A break of this key support could send the Euro down to test the next key support at 1.3090.

[IMG]http://www.rtfx.com/images/news/EURUSD230310.gif[/IMG]

Emman Xuereb
Trading Desk
RTFX Ltd
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