Chart Prepared by Jamie Saettele, CMT
FOREXAnalysis: EURUSD weakness to begin the year is intense to say the least. In fact, today’s drop constitutes a JS Thrust (largest range over the last 20 days and a down day) and may signal the beginning of a larger bear move. Still, expect a reaction at 13000, which was resistance at times throughout October and November. Trendline support comes in at about 12955 tomorrow.
FOREX Trading Strategy: I’m looking to fade (buy) weakness at or just below 12950 IF on a reaction just after NFP tomorrow.
LEVELS: 12907 12950 1298313080 1312313158