EUR/USD – Calm before the…Breakout?
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 this weekly report. SSI has flipped to negative, which is viewed as a positive for price.” The rate made a move on a long term slope line and shorter term trendline after ECB but failed. If consolidation since March 2015 is going to resolve higher in the near term (sometime this month), then 1.1122 should hold. As explained here, this is the longest consolidation ever for EUR/USD.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.