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EUR/USD Trading Between Slope Lines

EUR/USD Trading Between Slope Lines

2014-12-09 19:26:00
Jamie Saettele, CMT, Sr. Technical Strategist
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EUR/USD Trading Between Slope Lines

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“5 waves down from the May high, EURUSD could make it back to 1.2886 (former 4th wave) but the downside is favored as long as below 1.2600.”

-A good deal of support rests under 1.2300 but the swing remains lower until price can establish above 1.2600. The downtrend weakens above 1.2506 (would be an outside weekly reversal at that point).

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

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