EUR/USD Collapses into 200 Day Average
Chart Prepared by Jamie Saettele, CMT
Automate trades with Mirror Trader and see ideas on other USD crosses
-Previously comments were “EUR/USD continues to find support at the median line (from slope that originates by connecting the March and April lows)…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.” Today’s move (10/22) is important because the median line that’s been holding for months has been broken. Price has at the 200 day average but focus is lower as per the median line break. SSI also flipped today for the first time in months.
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.