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.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
FOREX Technical Analysis: EUR/USD Responds to 12770 Resistance

FOREX Technical Analysis: EUR/USD Responds to 12770 Resistance

Jamie Saettele, CMT, Sr. Technical Strategist


FOREX_Technical_Analysis_EURUSD_Responds_to_12770_Resistance_body_eurusd.png, FOREX Technical Analysis: EUR/USD Responds to 12770 Resistance

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: Monthly opening range implications are bearish EUR/USD with the high occurring on day 1 of the month. Today’s rally reversed after piercing 12770 (JS Thrust close from 11/7). The structure of the rally from 12661 isn’t particularly clean from a structural standpoint.

FOREX Trading Strategy: The larger trend is down against 12981 but reward/risk isn’t favorable at this point. A move above 12800 would warrant action on the short side (12824 in particular). 12685-12705 is potential support before the low. Weakness below 12660 would open up the 50% retracement at 12606.

LEVELS: 12607 12651 12682127801282512882

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