EUR/USD daily analysis

Carol Harmer Charmer Trading

Euro/Usd

Very quiet was the Euro yesterday....we held up well...but very little interest, thus the pivot points today are quite close together...To make the Euro trade higher we really do need to break above 1.1325...

Only if we do this would there be a bit more momentum coming back into the market...we need to clear that little downtrend line we are seeing...and this could give the market the oomph it needs to trade towards 1.1400/1.1425...

We have the DP @ 1.1306 today and support @ 1.1290/85 so we would be looking to this to hold...

Now the only negative I can see is if we fail to break above 1.1325 and more importantly lose 1.1280...The market is overbought...even though we have not moved that much higher, so this is something to be aware off...

If we loose 1.1280 there will be a flurry of selling pressure and we would be looking at this coming down once more to 1.12/1.1180....

Author

Carol Harmer

Charmer Trading

Carol Harmer has over 39 years experience of analysing and trading the world's markets and is undoubtedly one of the most respected technical trader in the world today.

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