EUR/USD 1.2700 is Resistance Now
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-“The move is beyond extreme and this week (new month and quarter) is a good time for a relief rally to begin. 1.2750 is initial resistance followed by former congestion from 1.2858 to 1.2994.”
-The EURUSD rally has entered resistance from former congestion that spans 1.2858-1.2994. Look for the decline to resume from this zone. The next major support is 1.2315. 1.2700 is estimated resistance.
--Tradingideas are availabletoJ.S. Trade Desk members.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.