Spot EUR/USD Forecast for 02/14 by Daytradeideas.com

EURUSD hit our target & resistance at 1.3518 & topped out exactly here. Support at 1.3420/15 has held the pullback but below here today look for 1.3375 then the week’s low at 1.3325. We still have very good support at 1.3310/1.3290 and the chance of a low for the week if tested.

2.3518/20 remains tricky resistance today but if we do break higher look for 1.3564 to exit longs and sell in to shorts with a stop above 1.3580.

Long term levels

1.3711     2013 High

1.3660     Last week’s high

1.3532     200 Week Moving Average

1.3486     2012 High

1.3381/86  April 2012 High

1.3367     100 Week Moving Average

1.3353     Last week’s Low

1.3284     May 2012 High

1.3140     October 2012 high

1.3028     November High

The article was first published by DayTradeIdeas.com