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EUR/USD Summer Lows Now Resistance at 1.0800/50

EUR/USD Summer Lows Now Resistance at 1.0800/50

Jamie Saettele, CMT, Sr. Technical Strategist

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Chart Prepared by Jamie Saettele, CMT

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

-The USDOLLAR index just traded to its best levels since 1 day after the April top yet EUR/USD is above the summer lows (barely). The non-confirmation is just that…a non-confirmation but EURUSD itself has broken under an important downtrend line. As such, risk is lower until noted otherwise. Summer lows are now resistance (1.0807/47). SSI is positive (although just 1.35), which is considered bearish

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

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