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EUR/USD Drops into Trendline Again; Decision Time

EUR/USD Drops into Trendline Again; Decision Time

2014-01-30 22:18:00
Jamie Saettele, CMT, Sr. Technical Strategist
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eliottWaves_eur-usd_1_body_Picture_10.png, EUR/USD Drops into Trendline Again; Decision Time

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-EURUSD has dropped back into trendline support. The line extends off of the September and November lows and crosses through 1/20, 1/21 and today. A break below the line would be an early indication that a trend change is at hang but price would immediately face the August high at 1.3451.

-As long as price is above trendline support, shorts are going against the tide and at risk of a run at 1.3745-13800.

LEVELS: 1.3472 1.35071.3537 | 1.3584 1.3620 1.3682

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

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