EURUSD fell to test very good support at 1.3320/10 where we predicted a low for last week. This worked perfectly with a low at 1.3306 & a bounce back to resistance at 1.3377 which is exactly where we topped out. 1.3310/00 could be tested again today & with daily charts becoming over sold, a chance of another bounce. If we fail here we have further support from the 55 day moving average at 1.3275 but below here a test of the 7 month uptrend line support at 1.3230 is likely.

Above 1.3355/60 we can test 1.3390/3400 which could be hard to beat. A high for the day here is very possible but if we break 1.3415 look for 1.3438 then 1.3460 for selling opportunity with a top here expected.



Long term levels

1.3711     2013 High

1.3520     Last week’s high

1.3532     200 Week Moving Average

1.3486     2012 High

1.3381/86   April 2012 High

1.3367     100 Week Moving Average

1.3306     Last week’s Low

1.3284     May 2012 High

1.3140     October 2012 high

1.3028     November High


The article was first published by