EUR/USD 1.3676 is Important to Downside Potential

By DailyFx | Updated July 30, 2014 AAA

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EUR/USD 1.3676 is Important to Downside Potential

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-Respect potential for lower levels as long as EURUSD is below 1.3676. 1.3614/42 is resistance against that level. The line that extends off of the 2012 and 2013 lows is in line with the 2014 low at 1.3476 and could offer support.

-Longer term implications from the ending diagonal that broke in May are bearish towards at least 1.3294.

LEVELS: 1.3419 1.34761.3538 | 1.3576 1.3635 1.3676

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

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