DailyFX Technical Focus: 10/30/2014
By Jamie Saettele, CMT, Sr. Technical Strategist
30 October 2014 19:34 GMT
EUR/USD 1.2700 is Resistance Now
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
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-“The move is beyond extreme and this week (new month and quarter) is a good time for a relief rally to begin. 1.2750 is initial resistance followed by former congestion from 1.2858 to 1.2994.”
-The EURUSD rally has entered resistance from former congestion that spans 1.2858-1.2994. Look for the decline to resume from this zone. The next major support is 1.2315. 1.2700 is estimated resistance.
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