Technical forecast for EUR/USD

EURUSD-Chart

EURUSD reached resistance at 1.3041 & over ran slightly to 1.3054. A push through 1.3045/54 does look possible today for a crawl higher to 1.3094, possibly a retest of 1.3134/37 which would be expected to cap a move to the upside.

1.2965/55 support marked the low last week. A break today however cannot be ruled out in this down trend, to target 1.2890/80 & if this fails we should test the 200 day MA at 1.2862. We will be watching for a bounce in this area today.

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