Spot EUR/USD Forecast for 02/26 by Daytradeideas.com

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EURUSD made it much further than expected to 1.3314 but then collapsed. We are just holding on to support in the 1.3060/40 area & could see a bounce back to 1.3132, possibly 1.3190/00. Here we could hit selling pressure so watch for a high but a push through 1.3240 could see us reaching 1.3282/96.

We are back in the long term down trend so any rally is expected to be short lived. A break below 1.3030 is very possible for 1.3000. Below here we could fall as far as 1.2890/80 before finding support.

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Long term levels

1.3711     2013 High

1.3532     200 Week Moving Average

1.3486     2012 High

1.3434     Last week’s high

1.3381/86  April 2012 High

1.3367     100 Week Moving Average

1.3145     Last week’s Low

1.3140     October 2012 high

1.3028     November High

 

The article was first published by DayTradeIdeas.com

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