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EUR/USD

EUR/USD

Jamie Saettele, CMT, Sr. Technical Strategist

EUR/USD Back Under Month Open of 1.3300; Which is Now Resistance

4Hour

eliottWaves_eur-usd_1_body_eurusd.png, EUR/USD

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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FOREX Analysis: The EURUSD dropped for the 3rd consecutive day (which follows 3 consecutive advances by the way) and cracked the line that extends off of the 7/15 and 8/2 lows as well as the month open of 1.3300. 1.3300 is now resistance along with the underside of the broken line (which is at 1.3300 on Wednesday anyway). Keep in mind Monday’s WSJ markets section, which featured USD weakness. Such headlines are typical at market turns (EURUSD bearish in this case).

FOREX Trading Strategy: Flat

LEVELS: 1.3187 1.3205 1.3232 1.3300 1.3380 1.3415

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

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