EUR/USD Top is Possible but Below 1.3504 Needed to Confirm

| 9 oktober, 2013 | 0 kommentarer

4Hour

eliottWaves_eur-usd_1_body_eurusd.png, EUR/USD Top is Possible but Below 1.3504 Needed to Confirm

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

EURUSD traded to 1.3645 last week. 1.3640 is the year to date high close (2/1 close). Such an important level may inspire a more important reaction (for example, see GBPUSD from 1.6252).

-The next levels of interest are 1.3674 (100% expansion of 9/19-9/25 range) and then the year to date high at 1.3711. Channel resistance is at about 1.3743 on Wednesday.

Trading Strategy: Below 1.3504 (10/2 low) would suggest that a deeper decline is underway, perhaps for the rest of the month. Former resistance would become of interest at 1.3450, followed by 1.3324 and the 9/13 close at 1.3296.

LEVELS: 1.3450/60 1.35041.3538 | 1.3604 1.3618 1.3645

Taggar: ,

Kategori: Analys från DailyFX

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