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EUR/USD Can be Sold into 1.3809/27 for Drop Towards 1.3650

EUR/USD Can be Sold into 1.3809/27 for Drop Towards 1.3650

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_eur-usd_body_Picture_10.png, EUR/USD Can be Sold into 1.3809/27 for Drop Towards 1.3650

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-EURUSD failed to hold the confluence defined by the short term channel / long term trendline and former highs at 1.3810/30. The implication is that the breakout has failed.

-1.3810/30, which was once resistance turned support, is resistance again! 1.3738 is a reaction area but strong support probably rests near 1.3650.

LEVELS: 1.3682 1.37071.3739 | 1.3827 1.3868 1.3893

--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.

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