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Majors update for the US session
EUR/USD tug of war
Best pair to trade now: GBP/USD

Majors update for the US session

Posted: 30 Mar 2011 06:59 AM PDT

Here is the hourly perspective updated for the US session:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2011/03/30/02/

EUR/USD tug of war

Posted: 30 Mar 2011 05:27 AM PDT

EUR/USD remains trading in a limited 100 pips range since weekly opening, lacking past months strength yet unable to fall. Inflation, rate hikes and sovereign debt in the euro zone, growth and comments regarding easing facilities in the US, keep investors on hold. Guess this Friday Payrolls can bring some light, yet a more clear picture will come with next week ECB decision. At this point, with market already pricing in a 0.50 bp rate hike, less than that will probably be quite disappointing.

In the mid time, pair is trading above a daily ascendant trend line, yet limited to the upside by a smaller one; 4 hours indicators are flat around their midlines giving no much of a clue, while 20 SMA holds a slightly bearish slope and price struggles around it. Technical confirmation above 1.4120/30 area, should see the pair higher, extending towards 1.4180/1.4200 price zone. Lose of 1.4050 on contrary, could lead to a retest of weekly low around 1.4000.