EUR/USD Outside Day Reversal; Resistance above 1.3600

By DailyFx | Updated July 30, 2014 AAA

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EUR/USD Outside Day Reversal; Resistance above 1.3600

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. Today’s reversal shifts near term focus to 1.3635.

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

LEVELS: 1.3419 1.34761.3538 | 1.3585 1.3635 1.3676

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

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