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Euro Technical Outlook

Thursday, 30 July 2009 14:12:53 GMT | Jamie Saettele, Senior Currency Strategist

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Tuesday, 25 August 2009 15:14:26 GMT Euro Technical Outlook
Monday, 24 August 2009 14:16:56 GMT Euro Technical Outlook
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Thursday, 13 August 2009 14:34:30 GMT Euro Technical Outlook
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Friday, 31 July 2009 15:00:33 GMT Euro Technical Outlook
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Monday, 20 July 2009 14:59:17 GMT Euro Technical Outlook
Friday, 10 July 2009 14:24:18 GMT Euro Technical Outlook

A 4th wave triangle is complete and expectations are for an upside break through 1.4340 and then 1.4720. I wrote Tuesday that “failure ahead of 1.4340 suggests that wave i of 5 (of C) may be complete. A small second wave could reach 1.4035/85 (Fibonacci support) before the advance continues. As such, short term traders may wish to trade from the short side the next several days. Longer term traders should wait for a better buying opportunity.” That second wave should be close to complete. There is potential support at 1.3970 and just above 1.3900 (support line and Fibonacci extension).

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