EURUSD held resistance at 1.3540/60 as predicted but then broke support at 1.3465/55 to hit 1.3375 which we saw as a good buying opportunity with strong support. The low was in fact 1.3371 so this trade has worked perfectly as we look for resistance at 1.3451. We can take profit here in case of a move back to 1.3375/70 support but be ready to buy back in to longs no a break higher looking for 1.3501. We can probably go no further today but if we push through 1.3445 we should find a selling opportunity at 1.3581.

A break of 1.3350 however needs to trigger stops as we target 1.3310/1.3290 & an excellent buying opportunity with little chance of any further losses.



Long term levels

1.3529     200 Week Moving Average

1.3491     Weekly 50% Fibonacci

1.3486     2012 High

1.3479     Last week’s high

1.3378     100 Week Moving Average

1.3381/86 April 2012 High

1.3284     May 2012 High

1.3265     Last week’s Low

1.3150     Weekly 50% Fibonacci

1.3140     October 2012 high


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