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EUR/USD Collapses into 200 Day Average

EUR/USD Collapses into 200 Day Average

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

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.

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

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