EUR/USD Higher Low Would Confirm above 1.0820
Chart Prepared by Jamie Saettele, CMT
-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 (low again today on 3/9). Between 1.0460 and 1.0820 is trading purgatory in my opinion but a move through the top side would make higher swing highs and lows following a false breakdown in late 2016-early 2017 and potentially lead to the biggest ‘short squeeze’ (rally) in years. For a big wave count possibility, check out this video.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.