Technical forecast for EUR/USD

euro

EURUSD held 1.2850/40 as we remain stuck in a range. We are testing the upper end of the range now at 1.2965/75 which did hold yesterday as expected but a break higher today looks likely & targets the 200 day moving average at 1.3020/30. Watch for a high for the day here so we can exit longs & try shorts with stops above 1.3060.

Support at 1.2910/00 could hold the downside today but below here risks a test of yesterday’s low at 1.2850/40.

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