EUR/USD Spot Daily Forecast – 11 August 2015
EURUSD lower over night to retest first support at 1.0950/55. Again holding here is positive for today & re-targets minor resistance at 1.0988/95 then 1.1010, before a retest of 100 day moving average resistance at 1.1030. Exit longs here again & try shorts at 1.1045/50. Stops at 1.1075. A break
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EURUSD lower over night to retest first support at 1.0950/55. Again holding here is positive for today & re-targets minor resistance at 1.0988/95 then 1.1010, before a retest of 100 day moving average resistance at 1.1030. Exit longs here again & try shorts at 1.1045/50. Stops at 1.1075. A break above 1.1065 however is positive again & targets 1.1105/10.
Any longs at 1.0955/50 need stops below 1.0920. Further losses today risk a slide to 1.0880 then last week’s low at 1.0854/47. If we continue lower today look for a test of May/July lows at 1.0818/08 for a small buying opportunity. Longs need stops at 1.0795. Be ready to sell a break below 1.0800 to target 1.0785/80 then 1.0750 on the way to 1.0725/20.
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