Daily
Chart Prepared by Jamie Saettele, CMT
DailyFX Trading Guides and Forecasts
-The trend has been higher since the May lows but the overlapping nature of the advance warns that the entire move is corrective (wedge aka diagonal triangle). The May-August trendline, which held earlier this month, is the trigger line for a pattern breakdown. The late March high at 1.3296 was tested twice last week so be aware of the wedge support line near 1.2940. Weakness below there could trigger a massive breakdown.
For more analysis and trade setups (exact entry and exit), visit SB Trade Desk
