EUR/USD Holds 1.2934 but Near Term Pattern Unclear before ECB
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
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FOREXAnalysis: The EURUSD found low just below reversal support at 1.2934 (from April low). There are numerous possibilities from a near term pattern perspective, including a diagonal from 1.3102, flat from 1.2984, or something else that I just don’t ‘see’ yet. With event risk the next 2 days, it’s best to let near term things play out before taking a stand but the reaction at 1.2934 is viewed as important.
FOREX Trading Strategy: Flat
LEVELS: 1.2837 1.2922 1.2972 1.3077 1.31421.3218