Daily
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Automate trades with Mirror Trader
–EURUSD traded above its narrow range before closing near the day’s low. It’s possible that the rally and reversal completes a terminal thrust from a triangle.
-In the event of a move higher, watch for resistance from 1.3640 (2/1 close) and 1.3674 (measured move).
–COT indicates that sentiment may be extreme among bulls.
Trading Strategy: Need to see impulsive weakness before I can short. Until then, it’s like holding a beach ball under water.
LEVELS: 1.3385 1.34301.3461 | 1.3563 1.3600 1.3640