5 waves up out of the triangle are complete, which leaves the EURUSD vulnerable to at least a corrective decline. 13165-13200 is support and the larger trend is considered bullish towards the mid 13400s as long as price is above 13088 (2/7 low). So, I am looking lower from here but will establish longs below 13200.
Jamie’s Pick: 02/08/12
- Oct, 02 15:56 GMTGold Price Outlook is Favorable According to Elliott Wave Theory
- Oct, 02 13:08 GMTEURUSD Tests Triangle Resistance
- Oct, 01 20:35 GMTUSDJPY Bias toward August 24th Lows On Macro Backdrop
- Oct, 01 18:30 GMTImportant Timing Relationship Ahead In the Pound
- Oct, 01 06:25 GMTUS Dollar Long Trades vs. Pound, Aussie and Kiwi Dollars Still in Play