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EUR/USD 1.2600/40 is Resistance

EUR/USD 1.2600/40 is Resistance

2014-11-04 20:04:00
Jamie Saettele, CMT, Sr. Technical Strategist
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EUR/USD 1.2600/40 is Resistance

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“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.”

-One more low may complete 5 waves down from the May high.

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

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