EUR/USD Declines for 5th Consecutive Day
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Automate trades with Mirror Trader
-EURUSD declined for a 5th consecutive day and traded to its lowest level since 7/22.
-The next downside level of interest is the 7/11 close at 1.3094.
-Weakness since the 8/20 high is unfolding in impulsive fashion.
-Strength would probably prove corrective. Estimated resistance is 1.3205-1.3254.
Trading Strategy: Like short positions between 1.3205 and 1.3254 with a 1.3350 stop. Target half at 1.3100.
LEVELS: 1.2980 1.3020 1.3094 | 1.3205 1.3254 1.3297
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