EUR/USD Forecast: May 26th, 2015
Jason Sen | May 26, 2015 06:36AM ET
EU/USD minor resistance at 1.1005/10, but above here could target resistance at 1.1080/85. Sell here, stop 1.1105. Target 1 at 1.1060 (trail stop to entry), target 2 at 1.1040, target 3 at 1.1010. However, be ready to go with a break above 1.1085 to target the next resistance at 1.1155, sell here stop 1.1185. Target 1 at 1.1125 (trail stop to entry), target 2 at 1.1095.
Failure to beat minor resistance at 1.1005/10 keeps the pressure on for a move towards first support at 1.0955 and we are oversold, but there is better support at 1.0925/20. Buy small longs, stop 1.0895. Target 1 at 1.0950 (trail stop to entry), target 2 at 1.0990. A break below 1.0925/20, however, targets support at 1.0875. Buy here, stop 1.0850. Target 1 at 1.0900 (trail stop to entry), target 2 at 1.0920 (but we could continue higher).
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