Today’s FX Trading Focus  -  MAY 2nd                                            

                    EUR/USD trading at 1.3240    

Today I am Highlighting EUR/USD:

EUR/USD tested Triangle resistance Yesterday and this was soundly rejected. Both the short term Wave structure and Classical chart configuration cautions risk of a further weakness ahead.

Resistance at 1.3250/1.3285 is Today expected to contain strength and I am now  Selling the Euro (with a tight Stop Loss above 1.3285, initially) expecting a sharp sell-off below the Key 1.3200 level - toward a Target of 1.3135/1.3120  (with potential to test the low 1.3000’s over coming days).

This forecast, plus similar for JPY, CHF, GBP, AUD and NZD, will be updated in my FX forecasting service, emailed to subscribers every day. A three week trial is available for $30. Email TRL@clear.net.nz if interested.

Disclaimer: Max McKegg & Technical Research Ltd accept no liability  whatsoever for any loss or damage that may result, directly or indirectly, from any forecast, comment or opinion, information or omission, whether negligent or otherwise, within this report.