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EUR/USD May High Influences for Outside Day Reversal

EUR/USD May High Influences for Outside Day Reversal

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

EUR/USD May High Influences for Outside Day Reversal

Chart Prepared by Jamie Saettele, CMT

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

-EUR/USD is still a range. For months, commentary has focused on the fact that EUR/USD continues to find support at the median line (from slope that originates by connecting the March and April lows). Yes, the tight range will give way to the next directional move but the immediacy of that move is called into question after today’s (10/15) outside bearish reversal, which took place very near the May high.

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

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