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EUR/USD: Oversold And At Resistance

EUR/USD: Oversold And At Resistance

EUR/USD” title=”EUR/USD” width=”986″ height=”339″ />EUR/USD hit our target and good support at 1.3250/40 for a buying opportunity and we bottomed exactly here. We are oversold short term and have reached as far as resistance at 1.3315 to exit remaining longs. We can then try shorts at 1.3335/40 with a high for the day expected but with stops above 1.3365 for a test of 1.3400 highs and a selling opportunity here.1.3250/40 offers a second buying opportunity to exit shorts and try longs with stops below 1.3220. A break lower today should see a test of the next support at 1.3195/90. A bounce from here is likely today but just be aware that a break lower offers a very good buying opportunity at 1.3155/50.

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