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EUR/USD Trades Near Potentially Major Support

EUR/USD Trades Near Potentially Major Support

2016-05-19 19:29:00
Jamie Saettele, CMT, Sr. Technical Strategist
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EUR/USD Trades Near Potentially Major Support

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The most recent EUR/USD comments noted that “EUR/USD failed to hold ‘the line’ and the suggestion is that the breakout has failed. Watch for support just below 1.1100 towards the end of the month. Have a plan! (see other traits of successful traders).” It’s the last day of the month and EUR/USD is trading near 1.1100. Major support may be just below the market. Watch for an SSI flip to signal a behavior change as well.

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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