EUR/USD: Selling Opportunity
Jason Sen | Apr 01, 2014 06:39AM ET
The EUR/USD hit trend line and Fibonacci support at 1.3720/10 with a low for the day as predicted. We then reached resistance at 1.3810/20 with a high for the day expected for a selling opportunity and topped exactly here. Immediate support is 1.3765 but below here targets 1.3720/10 with a low for the day very possible once again. Try longs with stops below 1.3700. A break lower however keeps the market under pressure to test the 100 day moving average and Fibonacci support at 1.3675/65 for a short term buying opportunity.
Resistance again at 1.3810/20 to try shorts with stops above 1.3845. On a break higher we could target 1.3875/80.
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