EUR/USD Key Reversal after Push through 1.3100

| 11 april, 2013 | 0 kommentarer


eliottWaves_eur-usd_body_eurusd.png, EUR/USD Key Reversal after Push through 1.3100

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Are you new to FX or curious about your trading IQ?

FOREXAnalysis: Wrote yesterday that “1.3130/70 has been a pivot on multiple occasions since September so respect the potential for the market to pause at that level and pull back. 1.3050/70 is support.” The market responded just before 1.3130 and found support late in the day at 1.3050. Pullbacks remain shallow. The largest pullback since the low is the Sunday/Monday 1.3039-1.2968 drop (71 pips). Wednesday’s drop from high to low is 69 pips. 1.2967 is viewed as the secondary low (either 2 or B), and extensions yield 1.3263 (100%), 1.3343 (127.2%) and 1.3445 (161.8%). The 100% level is near the 50% retracement of the decline from 1.3710 and the 127.2% level is several pips away from the 61.8% retracement of the decline.

FOREX Trading Strategy: Risk on longs from 4/4 has been moved up to 1.3025. A drop below there would have me looking for support at 1.2934 or maybe even 1.2890.

LEVELS: 1.2744 1.2889 1.2934/681.3133 1.32271.3307

Taggar: ,

Kategori: Analys från DailyFX

Om skribenten ()

DailyFX från FXCM ger dig dagligen färska tekniska analyser på valuta och råvaror. FXCM är en ledande handelsplattform för trading av finansiella tillgångar med kraftfulla verktyg för alla sorters handel.

Lämna ett svar

Din e-postadress kommer inte publiceras. Obligatoriska fält är märkta *