Market Overview

Technical forecast for EUR/USD

EURUSD failed just below 1.3450/60 & our selling opportunity. We are now about to test 7 month uptrend line support at 1.3245. We are very over sold on daily charts & getting that way on shorter term charts so there is the chance of a bounce from here today. However we need to keep a tight stop below 1.3220 for a test of 1.3187/83 Fibonacci support. Again a chance of a bounce but a break lower would then target the 100 day & 21 week moving average at 1.3120. 

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

 

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