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DailyFX Home / Forex Technical Analysis / Daily Technical Analysis

DailyFX Technical Focus: 3/19/2015

By , Sr. Technical Strategist

19 March 2015 18:38 GMT

Elliott Wave Bias Table

Symbol S3 S2 S1 R1 R2 R3 Chart Links

EUR/USD Familiar Resistance Line Comes into Play

4 Hour

EUR/USD Familiar Resistance Line Comes into Play

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-“There is a long term level to be aware of. The line that extends off of the 2008 and 2010 lows is at about 1.0545 this week. The March 2003 low is at 1.0499.” The low remains 1.0462. A period of range trading or at least a slowing in downside momentum may be in the works with the rate at a very long term level (line off of 2008 and 2010 lows).

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