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EUR/USD 5 Month Triangle a Possibility

EUR/USD 5 Month Triangle a Possibility

2014-03-05 22:18:00
Jamie Saettele, CMT, Sr. Technical Strategist
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eliottWaves_eur-usd_body_Picture_10.png, EUR/USD 5 Month Triangle a Possibility

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“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.”

-Friday’s close is now resistance in EURUSD at 1.3798. 1.3700 is minor support. If a triangle is underway from the October high then the rate could drop into 1.3600 and excite the bears before surging to 1.4300 (just a thought).

LEVELS: 1.3593 1.36511.3698 | 1.3798 1.3831 1.3859

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

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