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EUR/USD Drops Below September 2003 Low; March 2003 Low at 1.0500

EUR/USD Drops Below September 2003 Low; March 2003 Low at 1.0500

Jamie Saettele, CMT, Sr. Technical Strategist


Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“Bigger picture, the parallel that extends from the 1/21 high determines direction. A parallel to that line could provide support…in time. The line isn’t until the mid-1.0700s tomorrow and it decreases each day.” That line is being tested now but there is an even longer term level to be aware of. The line that extends off of the 2008 and 2010 lows is at about 1.0545 this week. The March 2003 low is at 1.0499.

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