EUR/USD Rolls Over from Familiar Line

Daily

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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-“EURUSD has held up but be aware of resistance near 1.11 (Jan low and slope resistance). A break above there would open up Feb highs at 1.1450 and 1.1533.”

-EURUSD rolled over at slope resistance but several longer term technical observations are worthy of note; the rate found low at an important long term level (line off of 2008 and 2010 lows) and the ownership profile (as per COT) is at a record.