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EUR/USD Still Capped by Outside Day Reversal

EUR/USD Still Capped by Outside Day Reversal

Jamie Saettele, CMT, Sr. Technical Strategist


Chart Prepared by Jamie Saettele, CMT

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

-Previous comments remain valid. “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.”

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