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EUR/USD

EUR/USD

Jamie Saettele, CMT, Sr. Technical Strategist

EUR/USD Revisits 1.3500s after 2nd Largest Rally of Year

Daily

eliottWaves_eur-usd_1_body_eurusd.png, EUR/USD

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-EURUSD traded into the 2/13 high (also 78.6% retracement of decline from the February high). Today’s 1.23% rally was the third largest of 2013 after the 7/10 and 1/10 rallies. Today’s rally along with the 7/10 rally compose 48% of the advance from the July low.

-Next potential resistance level is channel resistance in the mid-1.3600s.

-The close 15 minutes after the Fed announcement at 1.3450 is potential support.

Trading Strategy: Flat

LEVELS: 1.3337 1.33851.3450 | 1.3540 1.3600 1.3638

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

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