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DailyFX Home / Forex Technical Analysis / Daily Technical Analysis

DailyFX Technical Focus: 11/20/2014

By , Sr. Technical Strategist

20 November 2014 21:48 GMT


  • USDCAD trend support near 1.1240
  • Watch parallel channel support too
  • Technicals

Elliott Wave Bias Table

Symbol S3 S2 S1 R1 R2 R3 Chart Links

EUR/USD Responds to 1.2600 as Resistance

Daily

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.

--Tradingideas are availabletoJ.S. Trade Desk members.

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