Technical forecast for EUR/USD

EURUSD failed just below 1.3450/60 & our selling opportunity. We are now about to test 7 month uptrend line support at 1.3245. We are very over sold on daily charts & getting that way on shorter term charts so there is the chance of a bounce from here today. However we need to keep a tight stop below 1.3220 for a test of 1.3187/83 Fibonacci support. Again a chance of a bounce but a break lower would then target the 100 day & 21 week moving average at 1.3120.

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