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EUR/USD Interim Support is Near 1.1310

EUR/USD Interim Support is Near 1.1310

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

EUR/USD Interim Support is Near 1.1310

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-“EUR/USD took out major resistance (1.1460s) early this week before reversing at the underside of former trendline support. This is the same trendline that capped the February rally. Watch the internal trendline that was support on 4/22 and 4/25. Failure to hold that line would indicate a failed breakout. SSI has been net short since 3/3 on a daily close basis.” EUR/USD failed to hold ‘the line’ and the suggestion is that the breakout has failed.

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

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