There is a little range that has been set up by price action over the last couple of days.  The range is between 3475 and 3389.  I will be watching price action at these levels.  The current trend is biased long on.  However, we are at the lower edge of a larger short move fib zone retracement confluence area.  This translates into fairly decent resistance.  So, though the short term bias is long, it is a cautious long at this point because these are areas where a reversal can take place.  Enjoy.

 

EURUSD-2012-02-29_073737

EURUSD Quick fib level analysis