EUR/USD 1.3300/40 is Now Support; Beware False Break
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Interested in automated trading with Mirror Trader?
FOREX Analysis: It’s hard to believe that that the EURUSD isn’t going to trade through 1.3415…and then pull back. Why? Because a well-advertised level (June high in this case) is a common collection area for stops which rarely hold. Former resistance at 1.3340 is the top of estimated support. The bottom of the support zone is the month open at 1.3300.
FOREX Trading Strategy: Flat
LEVELS: 1.3265 1.3300 1.3340 1.3415 1.3500 1.3600
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.