EUR/USD is Bearish While Under 1.12
Chart Prepared by Jamie Saettele, CMT
-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.” The recent drop is important because the median line that’s been holding for months has been broken. Price is also back below the 200 day average. Focus is lower while under the median line, which is near 1.12.
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