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EUR/USD Outside Day at Lows; Watch 1.3560/90 for Support

EUR/USD Outside Day at Lows; Watch 1.3560/90 for Support

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

EUR/USD Outside Day at Lows; Watch 1.3560/90 for Support

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.

-There is a lot to break through at these levels. The 200 day average, October high and 2/27 low continue to hold up but 2 reversal attempts since 5/15 have failed. As such, beware a flush into 1.3560/90.

LEVELS: 1.3482 1.35601.3590 | 1.3650 1.3686 1.3753

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

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