EUR/USD Easing Into Support Lines
Chart Prepared by Jamie Saettele, CMT
-“EURUSD has taken out the final parallel from the line that connects the Oct and Jun 2014 lows. At the same time, 1.1450 (resistance in Feb) and 1.1533 (Feb high) could influence for a pullback. The latter level is intersects with uptrend resistance over the next several days.”
-EURUSD made high at 1.1466 in mid-May. The turn higher comes from the 61.8% retracement (or close to it…the Fibo is 1.0845) of the advance from the March low piques interest in a broader bullish scenario. 1.18+ isn’t out of the question over the next several weeks.
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