Technical forecast for EUR/USD

EURUSD has initial resistance at 1.3077 today which could hold a bounce, but above here we could see 1.3145 which should hold the topside. If we push through 1.3165 however, we look for a good selling opportunity at 1.3199 with a stop needed above 1.3225.

This pair are severely over sold on the daily chart so there is always the risk of a sharp bounce but there is no other sign of a bottom. Last week’s low at 1.2967 offers support but a break could target 1.2890/80 before finding support in this down trend. However below here we should test the 200 day MA at 1.2846.

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. has established itself as the leading provider of... More