EUR/USD Spikes into 50% Retracement

| 25 april, 2013 | 0 kommentarer

60 MinuteBars

eliottWaves_eur-usd_body_eurusd.png, EUR/USD Spikes into 50% Retracement

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

FOREXAnalysis: Was looking for weakness below 1.3001 and continuation into 1.2918/34, which is defined by the 4/4 reversal day close, 61.8% retracement of the rally from 1.2744 and where the decline from 1.3201 would consist of 2 equal legs (assuming price stays below 1.3128). Annoyingly, the decline stopped just short of estimated support. Price is in limbo between here and 1.3083.

FOREX Trading Strategy: Looking lower towards 1.2918/33 and maybe even channel support/1.2800 (head and shoulders target) as long as price is below 1.3083. Near term resistance is 1.3050. Exceeding 1.3083 while above Wednesday’s low would warrant a bullish bias against Wednesday’s low.

LEVELS: 1.2842 1.2919/34 1.2954 1.3052 1.30831.3128

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 *