EUR/USD 1.3550/75 May Prove Difficult to Penetrate
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-EURUSD continues to test the underside of recently broken trendline support. After 8 days of choppy upside, many are probably giving up on the downside…so it’s probably about time for the next leg lower.
-The 11/6 high at 1.3547 and 10/31 low at 1.3575 may provide resistance.
-Keep in mind the first day of the month is the high for the month so far at 1.3588.
Trading Strategy: On the lookout for a short opportunity above 1.3550. I’ll monitor things live via Twitter @JamieSaettele.
LEVELS: 1.3363 1.34191.3485 | 1.3547 1.3575 1.3630
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