EURUSD Daily Analysis – February 28, 2014

EURUSD’s fall from 1.3773 extended to as low as 1.3643, the subsequent bounce is likely resumption of the uptrend from 1.3477. Further rise to test 1.3773 resistance could be expected, a break above this level will trigger another rise towards 1.4000. On the downside, a breakdown below 1.3643 will confirm that the uptrend from 1.3477 had completed at 1.3773 already, then the following downward movement could bring price back to 1.3400 zone.

eurusd chart