Euro Recovers Against The Dollar

 | Mar 04, 2014 02:28AM ET

The EUR/USD made ​​a parabolic motion on Friday and closed the week, resuming its upward movement, thus squeezing potential sellers from the Forex market. "The exchange rate has recovered again at the opening to the weekly pivot point at 1.3756 and currently admirably with a rebound that led to a pair of losses at the opening and closing of the gap extension," reported FinFX. Night slip coincides with the 38.2% correction, which may ultimately lead to a deeper pullback towards the 50%, with 200SMA on the hourly charts.
Oscillators reflect the price correction going from overbought, but smoothed out above their central lines. Any attempt to reach a new maximum prices above 1.3825 Forex can result in negative divergence on the MACD.
Res: 1.3826; 1.3852; 1.3900; 1.4150;

Sup: 1.3773; 13756; 1.3722, 1.3642.