EUR/USD Still Yet to Break Big Pattern; 1.3028 is Important Now

| 16 maj, 2013 | 0 kommentarer

Daily Bars

eliottWaves_eur-usd_body_eurusd.png, EUR/USD Still Yet to Break Big Pattern; 1.3028 is Important Now

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

FOREXAnalysis: The EURUSD has penetrated an internal trendline (former diagonal resistance line) and closed beneath the important 1.2934 (61.8% retracement AND the close of the 4/4 reversal day). Bigger picture, a head and shoulders top would be confirmed on a drop below 1.2743.

FOREX Trading Strategy: Wrote yesterday that “2 days of sideways trading has succeeded Thursday’s and Friday’s decline. I’ll either sell weakness below 1.2934 (needs to be during active hours) with a 1.3035 stop or sell strength above 1.3028 with a 1.3200 stop.Breakout trading is warranted.” I’m bearish against 1.3035. Look for resistance near the downward sloping dashed line in the coming days…the line is at about 1.2942 on Thursday and 1.2932 on Friday. Considering the importance of 1.2934 as former support, a rally into there would be welcomed for a sale.

LEVELS: 1.2744 1.2801 1.2842 1.2907 1.29341.2988

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 *