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EUR/USD

EUR/USD

Jamie Saettele, CMT, Sr. Technical Strategist

EUR/USD 1.3200 Zone is Stacked with Technical Levels

Daily

eliottWaves_eur-usd_body_eurusd.png, EUR/USD

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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Why trade EURUSD?

FOREXAnalysis: Price exceeded 1.3205, eliminating the divergence with USDCHF and therefore eliminating the short term bearish setup in EURUSD. 1.3242 and 1.3294 (post FOMC close) are high volume areas that may produce a top. The area is also defined by the May 1 high (1.3242) and 50% of the year’s range (1.3226). Perhaps the most important point of reference is the 2013 open at 1.3183.

FOREX Trading Strategy: Stopped out of short. Expect to return short again at nearby levels.

LEVELS: 1.3066 1.3092 1.3150 1.3244 1.31741.3294

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

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