Technical forecast for EUR/USD

eurusd

EURUSD hit profit taking as predicted & has almost exactly hit our target of 1.3310/00. A low for the day was expected here & this has held so far but a break lower looks more likely today & should target good support at 1.3250/40 for a buying opportunity at this stage. Exit shorts & try longs with stops below 1.3190.

1.3345/50 should be a challenge on any bounce but above here we can exit longs & try shorts in the 1.3400/20 area with stops above 1.3440 as a break higher can then target 1.3505/15.

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