EUR/USD Trendline Support Just Below 13500 on Tuesday

RELATED QUOTES

SymbolPriceChange
EURUSD=X1.0589+0.0003

DailyBars

eliottWaves_eur-usd_body_eurusd.png, EUR/USD Trendline Support Just Below 13500 on Tuesday

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

FOREXAnalysis: Former resistance from the 2012 high is now estimated support at 13490. This level is reinforced as one of interest by the 1/25-1/29 highs from 13476-13496 and trendline support. It’s possible that weakness from Friday’s high composes part of a 4th wave within a 5 wave advance from January’s low. As long as the EURUSD is above 13403, favor strength.

FOREX Trading Strategy: Buying weakness below 13500, against 13400. If triggered, then risk on longs should be tightened if the EURUSD trades to 13580.

LEVELS: 13308 13403 1349613580 1364313711

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.

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...

Explore Related Contents

 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.230.000.00%
    N21.SI
    2.64-0.10-3.65%
    MC0.SI
    0.28+0.01+3.70%
    PH0.SI
    0.3850.0000.00%
    E5H.SI
    3.62-0.03-0.82%
    C31.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.34+0.05+17.24%
    PA3.SI
    0.205+0.025+13.89%
    1A4.SI
    0.135+0.014+11.57%
    5IG.SI
    0.20+0.02+8.70%
    BJD.SI
    0.50+0.04+8.70%
    BNE.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.50-0.10-16.67%
    BQP.SI
    0.31-0.03-8.82%
    BPF.SI
    0.14-0.01-8.50%
    5FL.SI
    0.60-0.05-8.40%
    AWC.SI
    1.12-0.10-8.20%
    NC9.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.4037-0.0004-0.03%
    USDSGD=X
    1.4862-0.0001-0.01%
    EURSGD=X
    1.74600.000.00%
    GBPSGD=X
    80.1310-0.092-0.11%
    SGDJPY=X
    5.5277+0.0022+0.04%
    SGDHKD=X
    3.1684+0.0074+0.23%
    SGDMYR=X
    9,502.8770-1.1465-0.01%
    SGDIDR=X
    4.8928+0.0025+0.05%
    SGDCNY=X
    1.0786+0.0011+0.10%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,254.10-4.70-0.37%
    GCJ17.CMX
    18.35-0.06-0.34%
    SIK17.CMX
    84.47-4.15-4.69%
    ^XAU
    2.690.00-0.17%
    HGK17.CMX
    54.22+0.17+0.31%
    CLJ17.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.87+0.07
    ^FVX
    -2.32
    ^TNX
    -2.95
    ^TYX