Spot EUR/USD Forecast for 11th January by Daytradeideas.com

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By Jason Sen | January 12, 2013 12:25 AM EST

DayTradeIdeas.com

EURUSD held just above 1.3022/17 and rocketed through 1.3200/07 as we close in on last month’s high at 1.3300/08. Exit longs as we approach this tough resistance and try shorts with a stop above 1.3340 as a break then targets 1.3385.

Failure to beat 1.3300/08 could bring us back to 1.3207 and a move below 1.3200 then signals further profit taking with 1.3156/45 the objective. Take profit on any shorts here and try longs with a stop below 1.3100.

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 DayTradeIdeas.com

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The article was first published by DayTradeIdeas.com

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