Technical forecast for EUR/USD

eurusd2

EURUSD held support at 1.3325/20 & held 1.3370/80 all through the session until the FOMC announcement. We then tore through August highs at 1.3450 to reach 1.3541. We need to hold above 1.3500/90 to continue the bull run. A break above 1.3545 then targets 1.3595/00 & possibly 1.3660 before the end of the week.

Below 1.3490 however risks a slide to support at 1.3460/55 & may be as far as 1.3440/30 for a buying opportunity. Exit shorts & try longs with stops below 1.3400.

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