EURUSD did hold below 1.3100 and we are just hovering below 1.3070/65, which should now act as resistance. We could be heading for 1.3022/17 next. We do need to exit any remaining shorts if we test last week’s lows at 1.2998 and could be worth buying in to longs here as this is good support. However a stop loss is required below 1.2950 as a break signals continued losses to 1.2920/09. Exit shorts here again and buy in to longs looking for a low for the day. Use a stop loss below 1.2880.

1.3145/55 resistance should be tough to beat again today but be ready to stop out of any shorts here buy back in to longs above 1.3170 looking for a move to 1.3200/07 as the next target.


Long term levels

1.3491     Weekly 50% Fibonacci

1.3387     100 Week Moving Average

1.3381/86 April High

1.3300     Last week’s high

1.3284     May High

1.3150     Weekly 50% Fibonacci

1.3140     October high

1.3028     November High




The article was first published by