Spot EUR/USD Forecast for 03/05 by

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EURUSD has initial resistance at 1.3077 today which could hold a bounce, but above here we could see 1.3145 which should hold the topside. If we push through 1.3165 however, we look for a good selling opportunity at 1.3199 with a stop needed above 1.3225.

This pair are severely over sold on the daily chart so there is always the risk of a sharp bounce but there is no other sign of a bottom. Last week’s low at 1.2967 offers support but a break could target 1.2890/80 before finding support in this down trend. However below here we should test
the 200 day MA at 1.2846.





Long term levels

1.3711     2013 High

1.3528     200 Week Moving Average

1.3486     2012 High

1.3331     100 Week Moving Average

1.3319     Last week’s high

1.3135     100 Week Moving Average

1.3074     38.2% Fibonacci

1.2967     Last week’s Low

1.2877    50% Fibonacci

1.2846    200 Day Moving Average


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