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EUR/USD Caught Between 2 Trendlines

EUR/USD Caught Between 2 Trendlines

Jamie Saettele, CMT, Sr. Technical Strategist


eliottWaves_eur-usd_1_body_Picture_10.png, EUR/USD Caught Between 2 Trendlines

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-EURUSD is trading between trendlines. On Friday, price broke the line that originated at the July low but is holding the line that extends off of the September and November lows. As long as the latter line holds, it’s difficult to be short.

-Watch for 1.3620 resistance.

LEVELS: 1.3399 1.34501.3514 | 1.3580 1.3620 1.3680

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

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