News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
EUR/USD Recent High is Support at 1.3905

EUR/USD Recent High is Support at 1.3905

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

EUR/USD Recent High is Support at 1.3905

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-It is 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. As is the case with all USD crosses, a larger breakdown isn’t out of the question at this point and I’m not keen on fighting USD weakness until Friday at the earliest. Even then, there would have to be evidence of a top (in this case…a push above 1.4000 and strong reversal).

-1.3905 is support…look higher as long as price is above 1.3960.

LEVELS: 1.3864 1.38821.3905 | 1.3966 1.4020 1.4074

--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.

DISCLOSURES