Forex Technical Analysis & EUR/USD Forecast for March 2st, 2012

EUR/USD currency pair continues falling down according to our forecast, it made a significant descending movement from the level of 1.3470 into the area 1.3290. Currently the price is moving at the level of 1.3330.  we should expect a rebound from the current levels and the start of the rising movement. One can consider buying the pair with the tight stop. The closest target of the growth is the level of 1.3565, the area for purchases is the level of 1.3215. If the price breaks the rising channel’s lower border, this case scenario will be cancelled and we should expect the pair to continue moving downwards.