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EUR/USD Dip Sets Single Currency Up for a Rip

EUR/USD Dip Sets Single Currency Up for a Rip

2014-01-29 02:21:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily

eliottWaves_eur-usd_1_body_Picture_10.png, EUR/USD Dip Sets Single Currency Up for a Rip

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-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.

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