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EUR/USD Textbook Triangle Thrust and Reversal

EUR/USD Textbook Triangle Thrust and Reversal

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

EUR/USD Textbook Triangle Thrust and Reversal

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-I wrote last update that “one possibility to keep in mind is a tight range before a thrust lower and reversal on Thursday. Exceeding 1.3668 would suggest that a low of sorts is already in place.” EURUSD traded a few ticks shy of 1.3500 (2014 low is 1.3476) before settling near the mentioned 1.3868.

-The implications are near term bullish towards 1.3750 but don’t forget the longer term implications from the ending diagonal that broke in May.

LEVELS: 1.3538 1.35931.3635 | 1.3686 1.3722 1.3757

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

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