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Technical Forecast for EUR/USD

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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.

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Eurozone Technicals Forex Markets Trading Ideas

 

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