EUR/USD Rally Fails at Election Day Close and 200 Day Average
Chart Prepared by Jamie Saettele, CMT
-Higher highs and higher lows are in place for 2017 in EUR/USD but the rate has failed at a big technical level. The level in question is the 200 day average and US Presidential Election Day close at 1.0909. The 1.0800/50 has been the bull/bear dividing line for several years too which makes a ‘call’ at the current level all the more difficult. As long as price is under the noted 1.0909, it’s difficult to be overly bullish. The 20 day average (not shown) remains a decent reference point as well. For a big wave count possibility, check out this video.
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