Technical Forecast for EUR/USD
EURUSD hit 1.3315/20 for a selling opportunity & this trade worked perfectly as we dipped back to 1.3255 on Friday. This morning we have broken above 1.3315/25 to reach our next target of 1.3375/80 & topped exactly here. However the pair are in a strong short term uptrend so a break higher cannot be ruled out & could target 1.3400/10. We should struggle here today as we start to look overbought short term but bear in mind if we continue higher we could see 1.3427 before a retest of August highs at 1.3452.
Good support at 1.3325/20 should hold any profit taking at this stage but if we continue lower look for the next support at 1.3280/75.
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