EUR/USD Summer Lows Provide Resistance
Chart Prepared by Jamie Saettele, CMT
-Recent comments remain valid. “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.”
- SSI is positive (although just 1.09 as of late Thursday…so close to another flip), which is considered bearish.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.