Spot EUR/USD Forecast for 03/06 by Daytradeideas.com

  on

EURUSD hit resistance at 1.3077 which did hold the bounce as predicted, but a break above here today looks more likely & targets 1.3145 which should hold the topside now. If however we push through 1.3165 we look for a selling opportunity at 1.3199 with our stop needed above 1.3225.

Support today at 1.3016/10 then last week’s low at 1.2967 offers better support. A break is unlikely now but 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.

[[nid:1113454]]

 

[[nid:1113455]]

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

The article was first published by DayTradeIdeas.com

Join the Discussion