Spot EUR/USD Forecast for 02/22 by

on February 22 2013 8:18 AM

EURUSD broke the 7 month uptrend line support at 1.3245 for a test of 1.3187/83 Fibonacci support & bounced just below at 1.3161. Today we expect a recovery with targets of 1.3246 & then 1.3295/1.3310. This is tough resistance & may cap the bounce. However if we see further strength look for 1.3370/80 which we see as a very good selling opportunity with a stop above 1.3440.Support at 1.3180/60. Again a chance of a bounce but a break lower would then target the 100 day & 21 week moving average at 1.3120. failure here should find good support at 1.3060/40

Spot EUR/USD Chart 2013.02.22 Spot EUR/USD Chart 2013.02.22


Long term levels1.3711     2013 High1.3520     Last week’s high1.3532     200 Week Moving Average1.3486     2012 High1.3381/86   April 2012 High1.3367     100 Week Moving Average1.3306     Last week’s Low1.3284     May 2012 High1.3140     October 2012 high1.3028     November High


The article was first published by

Share this article

More News from IBT MEDIA