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Trading EUR/USD Breakout

Jamie Saettele, CMT

The EURUSD has broken through consolidation. Near term support is 1.3000-1.3010. Longs are favored there with a 1.3020 stop and targets of 1.3300 and 1.3400. The advance could pause at the 50% retracement of the decline from above 1.3700 at 1.3227. Consider breakout systems here.

Still long EURAUD for 1.2800 (stop is still 1.2445) and EURGBP for .8650 near term on half but longer term potential is significant.

The USDJPY is offering short term opportunities. Over the years, I've often talked about buying big down Mondays. That's exactly what we got yesterday. Shprt term trading levels are 98.35/60 as resistance and 97.00/30 as support.


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