EUR/USD Outside Day Forms as Market Never Tests 1.3450
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Automate trades with Mirror Trader
-EURUSD made an outside day and was never able to test 1.3450 (August high) estimated support. Only a drop below 1.3372 (pre-Fed level) would be a bearish development.
-Watch the channel for resistance, specifically 1.3640 (2/1 close).
Trading Strategy: The path seems higher but downside risks are plenty with a possible top in place on news exhaustion. Sounds like a great time to be flat.
LEVELS: 1.3385 1.34501.3494 | 1.3568 1.3600 1.3643
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.