Technical forecast for EUR/USD

EURUSD hit our target & good support at 1.3250/40 for a buying opportunity & we bottomed exactly here. We are oversold short term & have reached as far as resistance at 1.3315 to exit remaining longs. We can then try shorts at 1.3335/40 with a high for the day expected but with stops above 1.3365 for a test of 1.3400 highs & a selling opportunity here.

1.3250/40 offers a second buying opportunity to exit shorts & try longs with stops below 1.3220. A break lower today should see a test of the next support at 1.3195/90. A bounce from here is likely today but just be aware that a break lower offers a very good buying opportunity at 1.3155/50.

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