EUR/USD Dip Likely Part of a Topping Process
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-EURUSD made a slight new high before finishing the day near the middle of Tuesday’s range. The rally from the 2/3 low is in 2 equal waves and Wednesday’s key reversal at least offers a level to trade against.
-Former highs at 1.3811 to 1.3831 and the line that extends off of the 2008, 2011 and December highs remain of interest as a reversal zone if reached. Trade below 1.3680 (not a spike) would suggest that a top is in for a drop into 1.3500s.
LEVELS: 1.3618 1.36821.3723 | 1.3768 1.3813 1.3859
--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.