Technical forecast for EUR/USD

eurusd2

EURUSD hit our target & good support at 1.3250/40 for a buying opportunity & we bottomed exactly here. We are oversold short term so we look for a move towards 1.3275 then 1.3297 for profit taking on at least some of our longs. Next resistance at 1.3315 can be used to exit remaining longs & we can then try shorts at 1.3335/40 with a high for the day expected.

1.3250/40 offers a second buying opportunity to exit shorts & try longs with stops below 1.3220 for a test of the next support at 1.3195/90. A bounce from here is likely today.

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