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Jamie's Pick: 08/30/11

Jamie's Pick: 08/30/11

2011-08-30 15:03:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Yesterday's LE of 14440 was triggered.

The EURUSD continues to probe the highs of the last several months, giving scope to a breakout towards the June and May highs (14694 and 14942). Structurally, I’ve maintained that the consolidation since the May high is just that – consolidation. Favor a break higher as long as price is above 14256. The final subdivisions of a triangle may be unfolding now.

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