60 Minute Bars
Prepared by Jamie Saettele
The EURUSD correction is almost certainly complete at 12925. Price reversed near the former 4th wave price extreme, which is quite common. Focus is on the 12300-12400 area, which is the 61.8 retracement of the prior rally and the 161.8 extension of the initial downleg.
Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Monday evenings), technical analysis of currency crosses on 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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