Forex Weathermap - EURUSD

11:25 GMT (Global-View.com) March 6 - Cloudy skies continue to loom over the EURUSD on Tuesday as the market looks ahead to key events later in the week. This has seen a break of daily channel support (1.3155) after the pause above it yesterday. Should the break hold, the risk will be on the 50 day mva (1.3072), 1.3055 (50% of 1.2623-1.3486) and 1.30.

Jay Meisler's Daily Forex WeatherMap
March 6, 2012 EURUSD (Current rate: 1.3135, O/N Range 1.3225-1.3131)

Outlook: No change to what I wrote yesterday at this time: Watch 1.3200 as this level will set the tone. not only for today but going forwards. Risk seems for a move back to 1.30 but would need to get through daily channel support (1.3155) to encourage a run at it.

While within 1.31-1.32, 1.3150 will set the intra-day tone but will stay in a SOB bias while below 1.32.

Range:
Resistance:
1.3225
1.3200
1.3155-60

1.3100-20
1.3072
1.3055
Support