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EUR/USD-The Line on this Chart is Important

EUR/USD-The Line on this Chart is Important

2015-12-08 20:45:00
Jamie Saettele, CMT, Sr. Technical Strategist
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EUR/USD-The Line on this Chart is Important

Chart Prepared by Jamie Saettele, CMT

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

-From a simple pattern and price perspective, EURUSD is basically in a range between 1.06 and mid-1.1400s. A former support line could provide resistance along with the 200 day average near 1.10. Above 1.10 would probably trigger a run towards the line that extends off of the August and October highs near 1.12. I like the upside for several reasons…notably SSI considerations and the break above the long term line (same slope as August-October trendline) that has been support/resistance at critical times since 2014.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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