Euro Former Support Line Serves as Resistance
Prepared by Jamie Saettele, CMT
The EURUSD surge has thus far been turned back from former trendline support. Reversing from these levels (or just above…more on that) gives scope to a long term head and shoulders top from the November 2010 high. Former resistance from 13975 and 13912 serve as supports that could propel the EURUSD a new high (above 14245).
Trend Strength (M,W,D) – (1), 0, 1
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