Market Overview

Technical Forecast for EUR/USD



EURUSD was predicted to bounce to 1.3182 & we are closing in on that resistance now. We should struggle here with a high possible for today but if we push through 1.3200 we look for a good selling opportunity at 1.3283 with a stop needed above 1.3320
We are heading in to over bought territory in the very short term & so failure to break 1.3182 could see us back to 1.3125/20. Below here a test of recent lows in the 1.3037/18 band should follow & a bounce very possible. A break below 1.3000 however could target 1.2890/80 before finding support in this down trend.

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Posted-In: Technicals Forex Markets Trading Ideas


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