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EUR/USD is Holding its 200 Day Average

EUR/USD is Holding its 200 Day Average

2016-08-09 19:17:00
Jamie Saettele, CMT, Sr. Technical Strategist
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EUR/USD is Holding its 200 Day Average

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

High Frequency Trading Ideas and Traits of Successful Traders

-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. As noted over the last several weeks, 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

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