News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
EURUSD Testing 4 Month Trendline Support

EURUSD Testing 4 Month Trendline Support

Jamie Saettele, CMT, Sr. Technical Strategist

WeeklyBars

eliottWaves_eur-usd_body_eurusd.png, EURUSD Testing 4 Month Trendline Support

Prepared by Jamie Saettele, CMT

I’ve focused on the short term pattern recently due to the 5 wave decline from the February top and 3 wave recovery from the 3/16 low. The implications from that 5-3 pattern remain for a break below 13003. In fact, failure at the 7 month trendline resistance reinforces the idea that the larger trend remains down. Currently testing the line that extends off of the January and March lows, a bounce encounters resistance at 13180-13210.

Bottom Line (next 5 days): lower

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

DISCLOSURES