Euro / US Dollar 05-19
See yesterday’s technical commentary on the EURUSD for the ‘exhaustion move in a low’ scenario. This remains a possibility but I also want to present a more bearish alternate. Reasons to favor this count are explained in yesterday’s video (RSI at new low on daily and close beneath downward sloping support line). Still, a rally back to 12450-12600 is not out of the question.
Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Friday evenings), technical analysis of currency crosses on Monday, Wednesday, and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forum. He is the author of Sentiment in the Forex Market. Follow his intraday market commentary and trades at DailyFX Forex Stream. Send requests to receive his reports via email to firstname.lastname@example.org.
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