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DailyFX Home / Forex Technical Analysis / Daily Technical Analysis

DailyFX Technical Focus: 3/5/2015

By , Sr. Technical Strategist

05 March 2015 20:03 GMT


Elliott Wave Bias Table

Symbol S3 S2 S1 R1 R2 R3 Chart Links

EUR/USD Prints Below 1.10; Chart Levels at 1.0915 and 1.0765

Daily

EUR/USD Prints Below 1.10; Chart Levels at 1.0915 and 1.0765

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“Bigger picture, the parallel that extends from the 1/21 high determines direction.” The EURUSD is at new lows and a parallel to that line could provide support…in time. The line isn’t until the mid-1.0700s tomorrow and it decreases each day. Chart levels of interest include the October 1999 high at 1.0915 and the August 2003 low at 1.0765.