Euro Breakout Looms on Horizon
300 Minute Bars
Prepared by Jamie Saettele, CMT
I favor a EURUSD run into the 15000s over the next few months but it doesn’t make sense to get long until price either exceeds 14516 or there is sufficient evidence to suggest that the correction is complete at lower levels. Near term weakness could find support at the trendline that extends off of the July and August lows.
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Trend Strength (M,W,D) – 0, 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 firstname.lastname@example.org.
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