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  • $EURUSD trying to hold support in the fibonacci zone b/w 1709 and 1736, same that helped to catch the Q1 low one more level below that zone and its the 2021 low at 1664 $USD $DXY https://t.co/sntjlxZrnl
  • EUR/USD has been packed in tightly between two key kevels (1.1700/38) since the open on Sunday night. Get your $EURUSD market update from @HathornSabin here:https://t.co/y8SKCtGUFj https://t.co/7atjCSqVS0
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FOREX Trading: EUR/USD Continues to Fail above 13100

FOREX Trading: EUR/USD Continues to Fail above 13100

Jamie Saettele, CMT, Sr. Technical Strategist

FXCM Expo Videos

Afternoon Technicals (all charts)

Other TA (crosses, COT, etc.)

FOREX Trading and Technical Analysis Observations

Comments from recent EURUSD technical updates remain valid - "I’d be surprised to see a sustained break through the December high (13126)...this is a high risk level and we should look lower." Zooming in on price action since 12/12, a triangle and terminal thrust into last night's high is visible. The thrust either completed the 5th wave from 12876 or a truncated C wave from the same level. In both instances, the immediate (1-2 days) outlook is towards at least 13040 and 12995. It’ll be interesting to see how the EURUSD closes the day and week in light of the trendlines currently in play.

EURUSD – Weekly Candles

FOREX_Trading_EURUSD_Continues_to_Fail_above_13100_body_eurusd.png, FOREX Trading: EUR/USD Continues to Fail above 13100

Prepared by Jamie Saettele, CMT

EURUSD – Daily Bars

FOREX_Trading_EURUSD_Continues_to_Fail_above_13100_body_eurusd_1.png, FOREX Trading: EUR/USD Continues to Fail above 13100

Prepared by Jamie Saettele, CMT

EURUSD – 15 Minute Bars

FOREX_Trading_EURUSD_Continues_to_Fail_above_13100_body_eurusd_2.png, FOREX Trading: EUR/USD Continues to Fail above 13100

Prepared by Jamie Saettele, CMT

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

To contact Jamie e-mail jsaettele@dailyfx.com. Follow me on Twitter for real time updates @JamieSaettele

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Jamie is the author of Sentiment in the Forex Market.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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