The EURUSD may be nearing a medium term bottom as wave 3 from 14785 nears completion. The 161.8% extension at 14015 is an objective. Another area that could provide support is the 38.2% retracement of the advance from 12450 at 14120.
Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Friday evenings), technical analysis of currency crosses on Monday, Wednesday, and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forum. He is the author of Sentiment in the Forex Market. Follow his intraday market commentary and trades at DailyFX Forex Stream. Send requests to receive his reports via email to jsaettele@dailyfx.com.
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