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EURUSD 12880 and 13080 are Short Term Levels of Interest

By , Sr. Technical Strategist
09 May 2012 21:49 GMT

WeeklyBars

eliottWaves_eur-usd_body_eurusd.png, EURUSD 12880 and 13080 are Short Term Levels of Interest

Prepared by Jamie Saettele, CMT

The EURUSD is inching towards the January low. Bulls can hope as long as price is above there (12622) but near term trend should be considered bearish below the May high (13283). 13080, which is the level left open by the gap, remains of interest but any strength above 13000 is a candidate to short against the May high. 12880 and 12810 are supports (and levels to cover short term shorts).

Ideas:

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09 May 2012 21:49 GMT