EUR/USD Dips Close to 200 DMA; Bend but Doesn’t Break
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-The sharp EURUSD reversal supports the long discussed ending diagonal (wedge) interpretation. Diagonals are often fully retraced (sometimes quickly), which yields a target of 1.3294.
-Wednesday’s reversal near the 200 DMA gives scope to a rally attempt. 1.3758+- is (still) resistance.
LEVELS: 1.3610 1.36501.3668 | 1.3717 1.3758 1.3774
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