EURUSD broke last month’s high at 1.3300/08and has reached the next target of 1.3385. We are breaking higher again this morning and if we can hold on above the 100 week moving average at 1.3387 we should start to close in on the next target of 1.3491 this week.

If prices start to fall below 1.3350 however we could see further weakness down to 1.3308/00. We are looking for a bounce from here but longs will need a stop below 1.3280.






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


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