Technical forecast for EUR/USD

EURUSD resistance at 1.2955/65 but above here we could test the 200 day moving average at 1.3020. We should struggle here with a high for the day likely so we could exit longs & try shorts with stops above 1.3070.

Immediate support is 1.2900/90 which could hold the downside as the short term & daily chart
both look much more positive. However below here look for 1.2850/40. We should bounce from here but if we continue lower watch for a test of 1.2800/775 May lows & 6 month trend line support & a low for the day. Exit shorts & try longs with stops below 1.2740.

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