Forex Analysis : EUR/USD

With Irish and German voters giving the big no to spend thrift and bailout prone politicians last week, the best case should be a spike to 1.4100-1.4200 or so over the near term.

Trade View
• The Euro faces clustered price resistance from its current level to 1.4100-1.4200, and may find it difficult to make linear progress.
• There is key near-term support at 1.3630 or so, and an initial level at 1.3725 then 1.3680.
• EUR/USD faces an initial hurdle for the week at 1.3780 then just above 1.3800, but a decisive breakout here will place 1.4000 or so as a viable target for the first few trading days in March.

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