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EUR/USD Gaps into April Gap and Stays There

EUR/USD Gaps into April Gap and Stays There

Jamie Saettele, CMT, Sr. Technical Strategist


EUR/USD Gaps into April Gap and Stays There

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.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.