Forex Weathermap-EURUSD

11:40 GMT (Global-View.com) March 1 - EURUSD is still under a cloud as it is still feeling the effects of yesterday's storm. However, while the damage was pretty severe charts show it was not fatal with the short-term up channel still intact (long term channel remains down).
Key levels on the downside come below 1.33 at 1.3298 (100 day mva = green line), 1.3290 = 38.2% of 1.2973-1.3486. and 1.3240 = 20 day mva and 1.3230 = 50%. On the upside, back above 1.3365 (former low for the week and yesterday's breakdown level) would be needed to lift the cloud. Note euro crosses are driving the market and keeping a bid under gbpusd and offer in usdcad.
Jay Meisler's Daily Forex WeatherMap
March 1, 2012 EURUSD (Current rate: 1.3323, O/N Range 1.3305 -1.3356)
Outlook: Keep an eye on 1.3350 today as that will be pivotal in setting the tone although 1.3365 ia more important technically. On the other side, downside is contained while above the 100 day mva. In any case the intra-day range is too tight to last. There will likely be SOB = Sell on Blips bias while below 1.34 (by those caught out by yesterday's sharp move down) but less so if 1.3350+ can be renewed. .
Range:
Resistance:
1.3415-25
1.3375-95
1.3255-65
1.3298
1.3290
1.3230-40
Support:
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