Technical forecast for EUR/USD

eur

EURUSD holding resistance at 1.3120/40 but above here could allow another test of 1.3190/00 highs. Try shorts here, adding up to 1.3230 with stops above 1.3255.

We are getting overbought now in the short term. Below 1.3090 therefore risks a return to 1.3030/25 support & the chance of a low for the day. A break lower could however target last week’s low at 1.2975/55.

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