EUR/USD Familiar Support Line Nearby before FOMC
Chart Prepared by Jamie Saettele, CMT
High Frequency Trading Ideas
-“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.” Today’s (6/9) bearish outside day could cap strength for a short period of time but price action is viewed within the context of the bull channel from the December low.
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