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Technical Analysis
EURUSD forecast
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[QUOTE="Startanu, post: 51793, member: 27771"] EURUSD is holding 50% retracement support at 1.3103. We Trading Look® for the “neckline” to the top at 1.3220/30 to ideally cap further strength though, for an eventual decline to 1.3021. EURUSD has found near-term support at the 50% retracement of the July/August rally at 1.3103, and we allow for the corrective bounce/consolidation from here to extend short-term. Resistance shows at 1.3189 initially, with the “neckline” to the top at 1.3220/30 ideally capping to keep the broader risks bearish through 1.3103 to 1.3021/1.2980 – the measured target from the top and 61.8% retracement. Removal of the latter would expose the broader range lows at 1.2775/55. Above 1.3230/55 is needed to ease the immediate downside bias for strength back to 1.3293/98, but with fresh selling expected here. Strategy: Short, add at 1.3228/38 stop above 1.3259, for 1.3025. [/QUOTE]
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