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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

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

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

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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-“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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