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EUR/USD Follows Through on Bearish Reversal

EUR/USD Follows Through on Bearish Reversal

Jamie Saettele, CMT, Sr. Technical Strategist


EUR/USD Follows Through on Bearish Reversal

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 1.1530-1.1630.”

For more analysis and trade setups, visit SB Trade Desk

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