EUR/USD Churns Before FOMC; 1.4050/90 and 1.3815 are Important

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eliottWaves_eur-usd_body_Picture_10.png, EUR/USD Churns Before FOMC; 1.4050/90 and 1.3815 are Important

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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-The EURUSD has broken out of the 5 month triangle. 1.3720 is the new pivot. As long as price is above 1.3720, focus is on the triangle target of 1.4368. The October 2011 high at 1.4247 is a possible reaction level.

-Former resistance is now estimated support at 1.3813.

LEVELS: 1.3781 1.38481.3891 | 1.3960 1.4000 1.4087

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

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