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EUR/USD Searching for a Tradable Low

EUR/USD Searching for a Tradable Low

2014-09-23 17:39:00
Jamie Saettele, CMT, Sr. Technical Strategist
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EUR/USD Searching for a Tradable Low

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“A zone of possible congestion is defined by the 2011 and 2013 lows from 1.2744 to 1.2873. Momentum is extreme, which raises the risk of a sharp ‘snapback’ before additional selling.”

-The near term momentum profile is consistent with a turn higher. Resistance is estimated at 1.3100.

--Tradingideas are availabletoJ.S. Trade Desk members.

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