Technical forecast for EUR/USD

EURUSD made it much further than expected to 1.3314 but then collapsed. We are just holding on to support in the 1.3060/40 area & could see a bounce back to 1.3132, possibly 1.3190/00.

Here we could hit selling pressure so watch for a high but a push through 1.3240 could see us reaching 1.3282/96.
We are back in the long term down trend so any rally is expected to be short lived. A break below 1.3030 is very possible for 1.3000. Below here we could fall as far as 1.2890/80 before finding 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