EUR/USD Firms Following Daily Key Reversal
DailyFX.com -
Daily
Chart Prepared by Jamie Saettele, CMT
DailyFX Trading Guides and Forecasts
High Frequency Trading Ideas and Traits of Successful Traders
-Bigger picture, “EUR/USD may be preparing for a substantial mark-up as noted in this weekly report. SSI has flipped to negative, which is viewed as a positive for price.” The dust has settled (after FOMC) but price remains trapped within a tight range. The 200 day average held but there is nothing to say that a Fibonacci / trendline confluence can’t be tested at 1.1085. The May-August trendline is the breakout barrier. As explained here, this is the longest consolidation ever for EUR/USD.
For more analysis and trade setups (exact entry and exit), visit SB Trade Desk
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.