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EUR/USD Fills Gap from April; Late December High is Here Too

EUR/USD Fills Gap from April; Late December High is Here Too

2014-05-01 22:06:00
Jamie Saettele, CMT, Sr. Technical Strategist
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EUR/USD Fills Gap from April; Late December High is Here Too

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-EURUSD closed the gap from April 11th. Besides the gap, this area is also the late December high. As has been the case for months, 1.3750 is the breakdown level. Supports before the 4/30 low at 1.3773 come in at 1.3820/40 (Fibonacci and week open).

-It is also possible that an ending diagonal is underway from the November low. If that plays out, then the market will trade above 1.3966 (and most likely above 1.4000) before topping.

LEVELS: 1.3753 1.37841.3843 | 1.3884 1.3909 1.3942

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

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