EUR/USD Consolidates Below 200 Day Average
Chart Prepared by Jamie Saettele, CMT
-Most recent remarks were that “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-this line is now possible resistance) that has been support/resistance at critical times since 2014.” EURUSD has pulled back from near 1.10 but as per SSI, respect upside while above 1.0800.
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