Euro Closes Sunday Gap Open – Additional Resistance at 14300
Prepared by Jamie Saettele, CMT
The EURUSD has soared from Tuesday’s low and the advance appears impulsive – near term resistance is at 14300 (61.8% retracement of decline from 14177 and 20 day average) and short term support comes in at 14100 and 14050. The larger trend must be considered down as long as the July high is intact (14577).
Trend Strength (M,W,D) – 1, 0, (1)
Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Monday), technical analysis of currency crosseson Wednesday and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forex Stream. A graduate of Bucknell University, he holds the Chartered Market Technician (CMT) designation from the Market Technician Association. He is the author of Sentiment in the Forex Market. Send requests to receive his reports via email to email@example.com.
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