Spot EUR/USD Forecast for 03/08 by Daytradeideas.com

 
on March 08 2013 8:59 AM

EURUSD reached our target of 1.3077/80 & if we can hold above here we look for the next target of 1.3145 today, which should hold the topside at this stage. If we push through 1.3165 we look for a test of 1.3199 resistance with 1.3250/55 likely to hold a bounce this week.1.2965 support is providing a floor to the recent sell off & could hold again if we fall this far, but a break should target 1.2890/80 before finding support in this down trend. However if this fails we should test the 200 day MA at 1.2846.

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Long term levels1.3711      2013 High1.3528      200 Week Moving Average1.3486      2012 High1.3331      100 Week Moving Average1.3319      Last week’s high1.3135      100 Week Moving Average1.3074      38.2% Fibonacci1.2967      Last week’s Low1.2877      50% Fibonacci1.2846      200 Day Moving Average

 

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