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Technical Forecast for EUR/USD

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Technical Forecast for EUR/USD

 

EURUSD fell to test very good support at 1.3320/10 where we predicted a low for the 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. 1.3320/10 could be tested again today. The support has been weakened but there is still a chance of another bounce. However stops on any longs are needed below 1.3285 & sell back in to shorts for a test of trend line support at 1.3220.    
 
Resistance at 1.3355/60 but above here we can test 1.3390/3400 which will be much harder 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: Technicals Forex Markets Trading Ideas

 

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