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


Jamie Saettele, CMT, Sr. Technical Strategist

EUR/USD Follows Through on Reversal Day; Selling on Strength


eliottWaves_eur-usd_body_eurusd.png, EUR/USD

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

FOREXAnalysis: “Evidence of a more important top is seen by Wednesday’s JS Spike (key reversal + volatility conditions). The last such setup was on 4/4, which proved to be an important low.” The EURUSD has retraced the entire rally from 1.3177. A corrective recovery is probably underway from 1.3160. The best area for the advance to end is 1.3261/72. 1.3261 is the post FOMC low. 13271 is 2 equal legs from Thursday’s low and 1.3272 is the post FOMC hourly close.

FOREX Trading Strategy: Price could continue lower from here but 1.3270 is a great level to sell if we get it. Order to short 1.3270 with a 1.3420 stop.

LEVELS: 1.3064/80 1.3115 1.3159 1.3245 1.32721.3293

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