EUR/USD Uncovered Close is Possible Resistance at 1.3884

DailyFX

Daily

View photo

.
eliottWaves_eur-usd_body_Picture_10.png, EUR/USD Uncovered Close is Possible Resistance at 1.3884

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-EURUSD was never able to drop under 1.3642, finding low after NFP at 1.3672. Momentum wise, I am looking for a top. RSI at each top since December has been below 70. This weak momentum profile is not suggestive of a strong bull.

-A reaction level before the high is 1.3909 although the uncovered close at 1.3884 now also becomes resistance.

LEVELS: 1.3701 1.37531.3784 | 1.3884 1.3909 1.3942

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


original source

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

Rates

View Comments (2)