Daily Bars
Prepared by Jamie Saettele
The EURUSD continues to rally, albeit at a dreadfully slow pace. There is little doubt in my mind that this advance from 12873 is countertrend and will be entirely retraced in an extremely sharp manner. Levels to expect resistance are 13744 (61.8% retracement) and 13827 (100% extension). It’s possible that price is also carving out a right shoulder top. A drop below 13539 (Monday’s low) would warrant a bearish bias.
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