EUR/USD Dip Sets Single Currency Up for a Rip
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-Since ripping off of trendline support last week, EURUSD has traded in a tight range. 1.3745 and 1.3800 remain potential resistance. 1.3550 remains possible support but there is an argument to be made for bullish wave structure above 1.3602.
-As long as price is above trendline support, shorts are going against the tide and at risk of a run at 1.3800.
LEVELS: 1.3552 1.35831.3640 | 1.3682 1.3745 1.3805
--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.