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EUR/USD Range Contracts; Beware Getting Caught Short on Trendline

EUR/USD Range Contracts; Beware Getting Caught Short on Trendline

2014-01-16 21:33:00
Jamie Saettele, CMT, Sr. Technical Strategist
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eliottWaves_eur-usd_1_body_Picture_10.png, EUR/USD Range Contracts; Beware Getting Caught Short on Trendline

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-EURUSD continues to hold support from the line that extends off of the July, November, and early January highs. A break would open up the December low at 1.3524 and August high/November 21 low at 1.3399-1.3451.

-As long as price is holding the line, a bearish call is premature as upward pressure remains possible towards the mid-1.3700s.

LEVELS: 1.3451 1.35241.3566 | 1.3649 1.3678 1.3744

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

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