day trade ideas – EURUSD in focus

EURUSD broke 1.3298/88 as expected to hit our target of 1.3225/20 & bottomed exactly here. We are looking oversold short term now so a bounce is possible today. We face resistance at 1.3260/75 & any shorts here need stops above 1.3286 as a break higher should target 1.3310/15. Exit longs & try shorts here with a high for the day likely.  Use stops on shorts above 1.3340 as if we continue higher we could test resistance at 1.3360/65 for a selling opportunity. 

1.3225/20 remains good support today & a buying opportunity but below here look for a test of 1.3185. Exit shorts & try longs here looking for the bounce with stops below 1.3165 for a test of support from the 100 & 200 day moving averages at 1.3140/30.