EUR/USD Trendline Support Just Below 13500 on Tuesday

RELATED QUOTES

SymbolPriceChange
EURUSD=X1.1137-0.0005

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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

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3462-0.0006-0.05%
    USDSGD=X
    1.4992-0.0014-0.09%
    EURSGD=X
    2.1127-0.0037-0.17%
    GBPSGD=X
    91.0399+0.1652+0.18%
    SGDJPY=X
    5.7589+0.0035+0.06%
    SGDHKD=X
    2.7794-0.01-0.36%
    SGDMYR=X
    9,909.6533-6.0996-0.06%
    SGDIDR=X
    4.6119+0.0049+0.11%
    SGDCNY=X
    1.0381+0.0004+0.04%
    AUDSGD=X
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    GCQ15.CMX
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    ^XAU
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    CLQ15.NYM
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    I07.SI
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