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EUR/USD Remains Bullish above 13255

EUR/USD Remains Bullish above 13255

2013-02-11 23:12:00
Jamie Saettele, CMT, Sr. Technical Strategist
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eliottWaves_eur-usd_body_eurusd.png, EUR/USD Remains Bullish above 13255

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

FOREXAnalysis: The sharp EURUSD selloff has resulted in a bullish RSI signal (basically the opposite of traditional divergence…RSI is getting ahead of price here). In uptrends, buying dips when RSI drops into the 50-40 zone is often a good move.

FOREX Trading Strategy: Long against 13255, for longer term targets just above 13800 and 14300.

LEVELS: 13255 13285 1334213458 1359713643

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