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EUR/USD – Chop and Slop Until ECB then Watch 1.0720

EUR/USD – Chop and Slop Until ECB then Watch 1.0720

Jamie Saettele, CMT, Sr. Technical Strategist


Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

Traits of Successful Traders

-“Bigger picture, an important region continues to hold. The region I’m referring to is March and December 2015 lows at 1.0460 and 1.0524. Still, between 1.0460 and 1.0820 is trading purgatory but if you must then pay attention to the center line of the channel that defines weakness from the May high. Weakness below there would warn of a coming panic drop. For a big wave count possibility, check out this video. Also pay attention to 1.0720 on Thursday (ECB).

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