EUR/USD Breakout on the Horizon?
Chart Prepared by Jamie Saettele, CMT
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.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.