EUR/USD Churning at Highs; 1.3600 is Still Support

| 21 oktober, 2013 | 0 kommentarer

Daily

eliottWaves_eur-usd_1_body_eurusd.png, EUR/USD Churning at Highs; 1.3600 is Still Support

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

After finding support from the line that connects previous range tops (June and August highs), the EURUSD pushed to a new high for the month and is knocking on the 2013 high from February at 1.3711.

-The channel that originates from the July low crosses the July 2011 low next week (1.3837). The 61.8% of the decline from the 2011 high is 1.3833 and the measured move from the just broken 1.3645-1.3461 range is 1.3829 (1.3645 + 1.3645-1.3461).

-Watch for support at just broken short term highs from 1.3600 to 1.3620.

Trading Strategy: Playing strength in Euro through crosses, specifically EURNZD.

LEVELS: 1.3597 1.36161.3645 | 1.3711 1.3800 1.3837

Taggar: ,

Kategori: Analys från DailyFX

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