Technical forecast for EUR/USD

EURUSD failed at resistance of 1.2955/65 as we test 1.2850/40 but we look likely to continue lower for a test of 1.2800/775 May lows & 6 month trend line support. We are oversold in the short term so a low for the day is possible but any longs need stops below this year’s low of 1.2745. We then look for the next target of 1.2662.

Resistance at 1.2902 then 1.2965/75 should hold the topside for a selling opportunity.

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