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EUR/USD Trying to Stabilize at Year Open Price

EUR/USD Trying to Stabilize at Year Open Price

2016-10-25 20:33:00
Jamie Saettele, CMT, Sr. Technical Strategist
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EUR/USD Trying to Stabilize at Year Open Price

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

Traits of Successful Traders

-EUR/USD has stabilized the last 2 days at the December 2015 weekly reversal settlement and year opening price. Still, the move is nothing to write home about just yet. Channel lows rest lower still in the mid-1.0700s. Only traction back above recent lows near 1.1120 would suggest that pressure is relieved on the cross, in which case this drop would be viewed as yet another nasty fake-out.

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

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