Technical forecast for EUR/USD

eurusd

EURUSD retested Friday’s low at 1.2936 & bounced as hoped to the 1.2995/1.3005 target. If we make it any higher we run in to strong resistance at 1.3053. Exit longs & try shorts with stops above 1.3090 for an excellent selling opportunity at 1.3115/25.

Below 1.3000 risks a slide back to 1.2950/35. This level will not have the strength it had on pre-vious challenges in the last 2 sessions, so any longs here need stops below 1.2925 as a break tar-gets 1.2890/80.

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