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EUR/USD Resistance Seen at 1.3810/40

EUR/USD Resistance Seen at 1.3810/40

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

EUR/USD Resistance Seen at 1.3810/40

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-EURUSD made a new high and the sharp reversal supports the ending diagonal (wedge) interpretation. Diagonals are often fully retraced (sometimes quickly), which yields a target of 1.3294.

-The rate has traded into the year open (1.3753). This level, along with 1.3700 is support for a bounce. 1.3810/40 is resistance.

LEVELS: 1.3672 1.37011.3753 | 1.3793 1.3911 1.3840

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

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