EUR/USD Dips to 50% Retracement after NFP

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EUR/USD Dips to 50% Retracement after NFP

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

EURUSD never made it to the well-defined 1.3750 area (50% retracement of the decline from the top as well as the close of the week that ended 5/9 (week of the top)) but higher levels can’t be dismissed just yet. The decline from the 7/1 high consists of 2 equal waves (so far).

-Longer term implications from May’s outside month remain bearish and consistent with a long term trend change.

LEVELS: 1.3512 1.35521.3586 | 1.3620 1.3640 1.3678

–Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

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