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EUR/USD Rips Higher From Double Inside Day; Still Within Range

EUR/USD Rips Higher From Double Inside Day; Still Within Range

2013-05-08 20:00:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Candles

eliottWaves_eur-usd_body_eurusd.png, EUR/USD Rips Higher From Double Inside Day; Still Within Range

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Are you new to FX or curious about your trading IQ?

FOREXAnalysis: The EURUSD broke higher from yesterday’s double inside day but remains within the range that confined most of April trading. Still, the decline from 1.3242 is in 5 waves which suggests that the break will be lower. I’m not going to pretend that I know with certainty which way the break will be however. I don’t see much to do here. Keep the big picture in mind.

FOREX Trading Strategy: Flat

LEVELS: 1.2934 1.3014 1.3074 1.3193 1.32421.3318

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

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