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EUR/USD Signs of Reversal before Shy of 1.1500

EUR/USD Signs of Reversal before Shy of 1.1500

2016-04-12 19:08:00
Jamie Saettele, CMT, Sr. Technical Strategist
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EUR/USD Signs of Reversal before Shy of 1.1500

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-EUR/USD is pressing into a well-defined horizontal zone (highs since February 2015 from the mid-1.1400s to the mid-1.1500s). A push through this zone is needed in order to clear the range for a trending move into the mid-1.20s, at which point trending tools such as SSI would have a better chance at doing well. Until the range is cleared, be wary of near term ‘fake-outs’.

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

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