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EUR/USD – Another 200 Day Average Test

EUR/USD – Another 200 Day Average Test

2016-10-04 18:29:00
Jamie Saettele, CMT, Sr. Technical Strategist
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EUR/USD – Another 200 Day Average Test

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

High Frequency Trading Ideas and Traits of Successful Traders

-The EUR/USD range continues to tighten. In fact, the Q3 range is one of the smallest quarterly ranges ever (see this video for details). There are a number of positives from a technical perspective, including the 200 day average holding and SSI remaining negative. Still, a test of the 61.8% retracement of the rally from the Brexit low can’t be dismissed. The May-August trendline is the breakout barrier on the upside. Weakness below 1.1085 would suggest that the next move is lower towards at least the Brexit low at 1.0912.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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