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EUR/USD June-October Line is of Interest for a Low

EUR/USD June-October Line is of Interest for a Low

Jamie Saettele, CMT, Sr. Technical Strategist

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Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-EURUSD is trading below the 2010 low and the next major support probably isn’t until the 2005 low at 1.1640. The line that extends off of the June and October lows is just above the 2005 low and is worth paying attention to as a near term exhaustion point and subsequent bounce.

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

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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