EUR/USD Key Reversal; Support Still Estimated Near 1.3815
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-The EURUSD has broken out of the 5 month triangle. 1.3720 is the new pivot. As long as price is above 1.3720, focus is on the triangle target of 1.4368. The October 2011 high at 1.4247 is a possible reaction level.
-Former resistance is now estimated support at 1.3813.
LEVELS: 1.3748 1.37811.3815 | 1.3895 1.3942 1.4000
--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.