Technical forecast for EUR/USD

EURUSD2

EURUSD fell to test very good support at 1.3310/1.3290 and the chance of a low for the week. This has worked so far today with a low at 1.3315 & we are bouncing towards resistance at 1.3377. We could push through here to test 1.3409/15 which will be much harder to beat. A high for the day here is very possible but if we break higher look for 1.3446 then 1.3466/76 for selling opportunity with a top here expected.

1.3320/10 should be used as a buying opportunity if we see it again today. We do expect this to mark the low but stops are needed below 1.3285 for a test of trend line support at 1.3220/10.

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