Technical Forecast for EUR/USD

Loading...
Loading...

 

EURUSD is just drifting sideways this week. We became very oversold after 4 weeks of heavy losses & this consolidation period will allow the oversold oscillators to unwind. We tried a break below 1.2965/55 which was not a surprise in this down trend, but we have held on to 1.2911& bounced. Below here finds support at 1.2890/80 but if this fails we should test the 200 day MA at 1.2865. We will be watching for a bounce in this area today.
 
We are sitting above 1.3008 giving us the opportunity to test 1.3067 resistance & possibly reach as far as 1.3100/3115 but this area should cap a move higher today.
Posted In: NewsForexGlobalEconomicsMarkets
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...