News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
EUR/USD Snaps Back after Trading Just Shy of 1.3600

EUR/USD Snaps Back after Trading Just Shy of 1.3600

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_eur-usd_1_body_eurusd.png, EUR/USD Snaps Back after Trading Just Shy of 1.3600

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-EURUSD traded above its narrow range before closing near the day’s low. It’s possible that the rally and reversal completes a terminal thrust from a triangle.

-In the event of a move higher, watch for resistance from 1.3640 (2/1 close) and 1.3674 (measured move).

-COT indicates that sentiment may be extreme among bulls.

Trading Strategy: Need to see impulsive weakness before I can short. Until then, it’s like holding a beach ball under water.

LEVELS: 1.3385 1.34301.3461 | 1.3563 1.3600 1.3640

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

DISCLOSURES