Market Overview

Technical Forecast for EUR/USD

 

EURUSD fell to test very good support at 1.3320/10 where we predicted a low for last week. This worked perfectly with a low at 1.3306 & a bounce back to resistance at 1.3377 which is exactly where we topped out. 1.3310/00 could be tested again today & with daily charts becoming over sold, a chance of another bounce. If we fail here we have further support from the 55 day moving average at 1.3275 but below here a test of the 7 month uptrend line support at 1.3230 is likely.    
 
Above 1.3355/60 we can test 1.3390/3400 which could be hard to beat. A high for the day here is very possible but if we break 1.3415 look for 1.3438 then 1.3460 for selling opportunity with a top here expected.

Posted-In: News Technicals Forex Global Economics Markets Trading Ideas

 

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