EUR/USD: Outlook More Negative
Jason Sen | Nov 26, 2013 04:20AM ET
EUR/USD fell just short of our selling opportunity at 1.3565/70 and topped at 1.3560. If we revisit 1.3560/70 today we can exit longs and try shorts with stops above 1.3595 for the next selling opportunity at 1.3625/30.
Today's outlook is more negative with immediate support at 1.3530/20 but below here signals further weakness to 1.3495/90. A good chance of a low for the day here but longs need stops below 1.3475 for the next buying opportunity at 1.3460.
Weekly outlook: More chance of a move to the downside this week and perhaps a test of last week's low at 1.3399. Only above 1.3595 is positive this week and can target October highs at 1.3832.
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