EUR/USD short term technical analysis

The EUR/USD pair made high of 1.36 on 1 feb and has been falling mode with Cyprus Bailout and overall economic deterioration of EU countries,  However, we are reaching a fairly noisy area below, and we think the 1.28 level should continue to be a “bottom” to the market for the time being. We have analyzed the chart in 4 hour, daily and weekly time frame which suggests 1.28 should be the bottom for the time being.

EUR/USD 4 Hour Chart

Fibonnaci Fans has been helpful is finding potential tops and bottom of financial instrument. Applying the same on EUR/USD pair shows EUR/USD has been respecting the


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