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EUR/USD in Position to Blow Out the Shorts

EUR/USD in Position to Blow Out the Shorts

2016-03-29 18:18:00
Jamie Saettele, CMT, Sr. Technical Strategist
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EUR/USD in Position to Blow Out the Shorts

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-There is no change to recent EUR/USD comments. “The rebound at 1.1060 sets the stage for a run at 1.15 (next zone is defined by highs since February 2015 from the mid-1.1400s to the mid-1.1500s). A push through there is still needed in order to clear the range for a trending move into the mid-1.20s. Trending strategies and tools such as SSI are unlikely to do well until we see resolution from the nearly year-long range.”

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