Technical forecast for EUR/USD

EURUSD bounced from very good support at 1.3465/55 and our buying opportunity. Resistance at 1.3540/60 did cap for most of the day but we broke higher eventually but have further tough resistance today at 1.3615. It should be worth attempting shorts here with a stop above 1.3660 as a break higher could lead us back to 1.3700/711 highs.

Support at 1.3560/50 but below here 1.3520/10 should be seen. Good support below again at 1.3465/55 could hold the downside today. However longs need a stop below 1.3425 for 1.3375 and again this should be seen as a good buying opportunity with strong support.

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason always had an interest in technical analysis throughout his trading career but began to study this area in depth from 2006. www.daytradeideas.com has established itself as the leading provider of... More