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EUR/USD at February High; Preparing to Launch

EUR/USD at February High; Preparing to Launch

2016-06-07 18:58:00
Jamie Saettele, CMT, Sr. Technical Strategist
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EUR/USD at February High; Preparing to Launch

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

High Frequency Trading Ideas

-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). Watch for an SSI flip to signal a behavior change as well.” The low for the move was 1.1097 on 5/30. SSI has flipped. Bullish potential is significant in the coming weeks, months, and maybe longer.

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

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