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EUR/USD Rips off of Trendline; 1.3750 is a Possible Reaction Area

EUR/USD Rips off of Trendline; 1.3750 is a Possible Reaction Area

2014-01-23 02:17:00
Jamie Saettele, CMT, Sr. Technical Strategist
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eliottWaves_eur-usd_1_body_Picture_10.png, EUR/USD Rips off of Trendline; 1.3750 is a Possible Reaction Area

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-EURUSD did better than hold trendline support. The rate saw its largest 1 day advance since 9/18. A pause for a few days may be due but a meaningful reaction may not come until 1.3745.

-In general, 1.3750-1.3800 is a region that could produce the next top.

LEVELS: 1.3552 1.35831.3650 | 1.3745 1.3805 1.3859

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

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