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EUR/USD Trades into Trendline Confluence and 1.3813; Decision Time

EUR/USD Trades into Trendline Confluence and 1.3813; Decision Time

2014-03-19 00:45:00
Jamie Saettele, CMT, Sr. Technical Strategist
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eliottWaves_eur-usd_body_Picture_10.png, EUR/USD Trades into Trendline Confluence and 1.3813; Decision Time

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-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 at 1.3813 has been reached. This level is also marked by a trendline confluence. If the trend is still higher, then this confluence should hold.

LEVELS: 1.3682 1.37211.3781 | 1.3848 1.3879 1.3914

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

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