I maintain a longer term bullish bias against 10223. I expect the decline from 10784, which is wave c of an expanded flat, to give way to the next leg of the larger bull. 10319/52 is support is needed but price ideally stays above 10368. Trading above 10534 would confirm that the larger trend has turned up.
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.
