Advertisement
Singapore markets closed

  • Straits Times Index

    3,176.51
    -11.15 (-0.35%)
     

  • Nikkei

    37,068.35
    -1,011.35 (-2.66%)
     

  • Hang Seng

    16,224.14
    -161.73 (-0.99%)
     

  • FTSE 100

    7,824.31
    -52.74 (-0.67%)
     

  • Bitcoin USD

    64,702.66
    +3,201.60 (+5.21%)
     

  • CMC Crypto 200

    1,334.10
    +21.48 (+1.66%)
     

  • S&P 500

    5,011.12
    -11.09 (-0.22%)
     

  • Dow

    37,775.38
    +22.07 (+0.06%)
     

  • Nasdaq

    15,601.50
    -81.87 (-0.52%)
     

  • Gold

    2,397.00
    -1.00 (-0.04%)
     

  • Crude Oil

    83.32
    +0.59 (+0.71%)
     

  • 10-Yr Bond

    4.6470
    0.0000 (0.00%)
     

  • FTSE Bursa Malaysia

    1,547.57
    +2.81 (+0.18%)
     

  • Jakarta Composite Index

    7,087.32
    -79.50 (-1.11%)
     

  • PSE Index

    6,443.00
    -80.19 (-1.23%)
     

FOREX Technical Analysis: EUR/USD in Limbo at Current Level

Jamie Saettele, CMT

DailyBars

FOREX_Technical_Analysis_EURUSD_in_Limbo_at_Current_Level_body_eurusd.png, FOREX Technical Analysis: EUR/USD in Limbo at Current Level
FOREX_Technical_Analysis_EURUSD_in_Limbo_at_Current_Level_body_eurusd.png, FOREX Technical Analysis: EUR/USD in Limbo at Current Level

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: Bigger picture “The EURUSD bullish break in early December remains valid as long as price is above 12875. In fact, the former resistance line extended off of the March, September, and October highs served as support last week. Structurally, the decline from 13307 may compose a flat.” Near term, confidence is low in the upside due to the 3 wave advance from Friday’s low but a run on 13154 or even 13225 isn’t out of the question as long as Friday’s low is intact.

FOREX Trading Strategy: Conflicting evidence makes trading against Friday’s low or Tuesday’s high untenable. I’m sitting tight.

ADVERTISEMENT

LEVELS: 12908 12997 13030 13095 13148 13184

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.