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Technical Forecast for EUR/USD

Technical Forecast for EUR/USD


EURUSD resistance at 1.2955/65 but above here we could test the 200 day moving average at 1.3020. We should struggle here with a high for the day likely so we could exit longs & try shorts with stops above 1.3070.
Immediate support is 1.2900/90 which could hold the downside as the short term & daily chart
both look much more positive. However below here look for 1.2850/40. We should bounce from here but if we continue lower watch for a test of 1.2800/775 May lows & 6 month trend line support & a low for the day. Exit shorts & try longs with stops below 1.2740.

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Posted-In: Technicals Forex Markets Trading Ideas


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