EUR/USD Rally Stalls at Former Support Turned Resistance (Again)
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Chart Prepared by Jamie Saettele, CMT
DailyFX Trading Guides and Forecasts
-EUR/USD took out major resistance (1.1460s) early this week before reversing at the underside of former trendline support. This is the same trendline that capped the February rally. Watch the internal trendline that was support on 4/22 and 4/25. Failure to hold that line would indicate a failed breakout. SSI has been net short since 3/3 on a daily close basis.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.