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
Breaking news

UK Prime Minister Boris Johnson Resigns

EUR/USD Outside Day and 1.3600 Test

EUR/USD Outside Day and 1.3600 Test

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_eur-usd_1_body_eurusd.png, EUR/USD Outside Day and 1.3600 Test

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-EURUSD pushed to a new high on Wednesday, making an outside day in the process.

-Continue to keep the following levels in mind for reactions; 1.3640 (2/1 close) and 1.3674 (100% expansion of 9/19-9/25 range). Channel resistance is right in line with the year to date high at 1.3711 (channel increases 8 pips per day).

-COT indicates that sentiment may be extreme among bulls.

Trading Strategy: No evidence of a top so why not be long? Flat is a position too and that’s what I prefer here (and have for a long time). Besides, the rally from the 9/25 low is an overlapping mess and may compose a diagonal (terminal pattern).

LEVELS: 1.3460 1.35041.3560 | 1.3640 1.36741.3711

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

DISCLOSURES