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Jamie's Pick: 03/19/12

Jamie's Pick: 03/19/12

Jamie Saettele, CMT, Sr. Technical Strategist

The combination of support from the Elliott channel / 38.2% retracement of the rally from 7460 and daily key reversal (today) portend a bullish resolution in the coming weeks. Bulls are favored against 8175. 8320 is interim resistance this week.

To contact Jamie e-mail jsaettele@dailyfx.com. Follow me on Twitter @JamieSaettele

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Jamie is the author of Sentiment in the Forex Market.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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