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EUR/USD at February High; Preparing to Launch

EUR/USD at February High; Preparing to Launch

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

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

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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