Technical forecast for EUR/USD

eurusd1

EURUSD hit our target of 1.3310/00 & continue lower to 1.3277 so we did not make it as far as good support at 1.3250/40 for a buying opportunity. If we do see this level today we can exit shorts & try longs with stops below 1.3190.

We are oversold short term so a recovery could be on the cards today. Immediate resistance at 1.3345/50 but above here we may reach 1.3400/20. With the daily chart more negative 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