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EUR/USD Rebounds; Above 1.0760 Would Indicate Important Change

EUR/USD Rebounds; Above 1.0760 Would Indicate Important Change

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

EUR/USD Rebounds; Above 1.0760 Would Indicate Important Change

Chart Prepared by Jamie Saettele, CMT

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

-Since November NFP, EUR/USD has traded lower but in a series of overlapping waves. Momentum is lacking on the move lower as well. Above 1.0760 would indicate that ‘something else’ (as in EUR/USD is no longer a one-way train lower) is going on.

-SSI is positive, although just 1.09 as of 12/1. A flip to negative would be bullish (I prefer to wait for a daily close on the other side +-1.5).

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.

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