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EUR/USD Daily Reversal at Confluence of Slope and Horizontal Level

EUR/USD Daily Reversal at Confluence of Slope and Horizontal Level

2015-05-07 21:56:00
Jamie Saettele, CMT, Sr. Technical Strategist
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EUR/USD Daily Reversal at Confluence of Slope and Horizontal Level

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“The break above the resistance line (old support) indicates that behavior has changed. Looks towards 1.1270.”

-EURUSD reversed at the confluence of a sliding parallel and the 2/25 high. Risk is lower at these levels although a break above (daily close) would point to 1.15. What happens here is probably key to the next big move.

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