FOREX ALERTS >>
DailyFX Plus Login

eur-usd

Article

Euro / US Dollar
Tuesday, 19 January 2010 15:48 GMT  |  Written by Jamie Saettele
Delicious
Facebook

eur1

With 3 waves up from 14216 (as well as the advance reversing at the 38.2% retracement level of the decline), respect the potential for the next bear leg of the decline from 15144.  If the larger trend has turned back down, then price ideally remains below 14417 (3rd wave underway from there).  A break of 14216 exposes 14000. 

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.

DailyFX provides forex news on the economic reports and political events that influence the currency market.
Learn currency trading with a free practice account and charts from FXCM.

More Articles

Feedback Form