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EUR/USD Held Up by a Slope Confluence

EUR/USD Held Up by a Slope Confluence

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

EUR/USD Held Up by a Slope Confluence

Chart Prepared by Jamie Saettele, CMT

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

-“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.”

-“EURUSD made high at 1.1466 in mid-May before pulling back into the 61.8% retracement (or close to it…the Fibo is 1.0845) of the advance from the March low. The rate continues to respect bullish slope. EURUSD is at support. Look higher as long as price is above 1.0818.”

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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

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