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EUR/USD Triumvirate Resistance at 1.1060

EUR/USD Triumvirate Resistance at 1.1060

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

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

-The 20 day range (about a rolling month) stands at 1.69%. This is the tightest range since early December 2014. Several weeks later, EUR/USD dropped from above 1.24 to nearly 1.11 in about 5 weeks. Point is, strong trends tend to succeed tight ranges. Pay attention to SSI, which may help ‘catch’ the move. As always, reward/risk is paramount so be aware that 1.1060 looms as resistance (December high, 200 day average, and trendline).

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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