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16 October 2014 18:36 GMT
Jamie is founder of J.S. Trade Desk.
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.
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