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.

Free Trading Guides
EUR/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Mixed
USD/JPY
Bullish
Gold
Bullish
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Bitcoin
Bearish
More View more
EUR/USD Dips Close to 200 DMA; Bend but Doesn’t Break

EUR/USD Dips Close to 200 DMA; Bend but Doesn’t Break

2014-05-21 20:33:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Daily

EUR/USD Dips Close to 200 DMA; Bend but Doesn’t Break

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-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

--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

News & Analysis at your fingertips.