EUR/USD Trades to High for Month; 1.3489 is the New Pivot

| 27 november, 2013 | 0 kommentarer


eliottWaves_eur-usd_body_Picture_10.png, EUR/USD Trades to High for Month; 1.3489 is the New Pivot

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

EURUSD continues to crawl higher. Near term focus is on 1.3650 (10/3 high and 10/21 low) and it’s worth noting that the rally from 1.3296 would consist of 2 equal waves at 1.3682.

-Only a drop below 1.3489 (previously 1.3400) would begin to suggest that the trend is not higher.

Trading Strategy: This market may be re-establishing its larger uptrend. At worst, the trend is sideways towards 1.3650 and maybe closer to 1.3800 at this point. Only a move below 1.3489 would suggest that we consider the short side. GBPUSD may be breaking out.

LEVELS: 1.3463 1.35001.3559 | 1.9586 1.3650 1.3695

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Kategori: Analys från DailyFX

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