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EUR/USD Consolidating at 2015 Trendline; Overhead at 1.0710/60

EUR/USD Consolidating at 2015 Trendline; Overhead at 1.0710/60

Jamie Saettele, CMT, Sr. Technical Strategist


Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

Traits of Successful Traders

-“As noted many times in technical articles recently, the sideways trade since March 2015 represents the longest period of range contraction since the inception of the euro. The resulting break, whenever it happens, should be phenomenal. The median line has been resistance (at times to the pip) since August 2015. After Wednesday’s (11/9) events, the downside looks more appealing.” Fast forward and EUR/USD has reached the 2015 trendline, which may well provide support for a bounce.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.