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EUR/USD Could React Near Channel Line Just Under 1.1300

EUR/USD Could React Near Channel Line Just Under 1.1300

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

EUR/USD Could React Near Channel Line Just Under 1.1300

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

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-EUR/USD may be preparing for a substantial mark-up as noted in the weekly report. Near term, the line that extends off of the May and July lows could serve as resistance (the line is just under 1.1300). As noted recently, I’m employing 1.11 (late May low and close to Brexit day close and 200 day average) as the bull/bear dividing line. SSI has flipped to negative, which is viewed as a positive for price.

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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