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EUR/USD Familiar Support Line Nearby before FOMC

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EUR/USD Familiar Support Line Nearby before FOMC

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

High Frequency Trading Ideas

-“Watch for support just below 1.1100 towards the end of the month. Have a plan! (see other traits of successful traders). Watch for an SSI flip to signal a behavior change as well. The low for the move was 1.1097 on 5/30. SSI has flipped. Bullish potential is significant in the coming weeks, months, and maybe longer.” Today’s (6/9) bearish outside day could cap strength for a short period of time but price action is viewed within the context of the bull channel from the December low.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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