DailyFX Technical Focus: 11/20/2014
By Jamie Saettele, CMT, Sr. Technical Strategist
20 November 2014 21:48 GMT
EUR/USD Responds to 1.2600 as Resistance
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Automate trades with Mirror Trader and see ideas on other USD crosses
-“One more low may complete 5 waves down from the May high.” EURUSD made a key reversal on 11/7 and an inside week last week. With 5 waves down from the May high, EURUSD could make it back to 1.2886 (former 4th wave) but the beware channel resistance and former lows just above 1.2600 as resistance now too.
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