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EUR/USD 1.0960s Looks Important

EUR/USD 1.0960s Looks Important

Jamie Saettele, CMT, Sr. Technical Strategist


EUR/USD 1.0960s Looks Important

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Most of the breakout move that began on 2/3 has been erased. 1.0960s looks big at this point. The level is defined by a trendline and Fibonacci confluence (50% of rally from December and 61.8% of 2016 range). Despite a nearly 400 pip decline, SSI is not indicating a bearish breakout (see real-time SSI here). As long as the channel is holding, look higher.

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.