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EUR/USD Dips to 50% Retracement after NFP

EUR/USD Dips to 50% Retracement after NFP

2014-07-03 18:01:00
Jamie Saettele, CMT, Sr. Technical Strategist
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EUR/USD Dips to 50% Retracement after NFP

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-EURUSD never made it to the well-defined 1.3750 area (50% retracement of the decline from the top as well as the close of the week that ended 5/9 (week of the top)) but higher levels can’t be dismissed just yet. The decline from the 7/1 high consists of 2 equal waves (so far).

-Longer term implications from May’s outside month remain bearish and consistent with a long term trend change.

LEVELS: 1.3512 1.35521.3586 | 1.3620 1.3640 1.3678

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

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