Current trend 

The single European currency has slightly appreciated against the US Dollar and is currently trading at 1.0878. The Euro has grown on the news that the ECB has increased financial assistance to Greece by 700 million Euro. The ECB suspended the eligibility of Greek government bonds as collateral in February; therefore the country had to find other sources of financial assistance at higher interest rates, including ELA - emergency liquidity assistance program. No serious changes in the Forex market are expected today due to EU banking holidays and Good Friday. As to financial statistics, particular attention should be paid to US non-farm payrolls and unemployment rates.  

Support and resistance

The nearest resistance level is 1.0864 (2/8 Murray). The support level is at 1.0925 (3/8 Murray).

Trading tips 

Go short after a level of 1.0850 is broken and place protective orders near a level of 1.0880 with a target at 1.0745.

EUR/USD: general reviewv

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