Euro target of 1.3015 achieved, and now we look for a correction higher..Already we have been to 1.3050, and if we can break 1.3055 we can see further short term strength to the break point of 1.3080/85.

We should have seen enough on the topside at this point and we are sellers to here and we will hold shorts unless a break is posted above 1.3130. It is looking unlikely that we will break above this resistance.

Now after correction expect another test of 1.3015. This is good support from technical 50% short term fib...Therefore all shorts to be covered..Re-sell a break below 1.3005 as this will take us lower to 1.2970 and possibly lower down to 1.2945/20 before buyers are back in the market.

SUPPORT
1.3015
1.2990/70
1.2945
1.2920
1.2895
1.2835
1.2815
1.2795
1.2755/50
1.2730

RESISTANCE
1.3050/55
1.3080/85
1.3128
1.3140/45
1.3170/72*
1.3225
1.3240/45
1.3280/90
1.3325/30
1.3360/65

 

SHORT TERM FIB
23.6  1.3083
38.2  1.3046
50  1.3017
61.8  1.2988
76.8  1.2952
MED TERM FIB
23.6  1.2914
38.2  1.2742
50  1.2608
61.8  1.2474
76.8  1.2304








 

The article was first published by CharmerCharts