Euro Drops Sharply – Targets 13570
240 Minute Bars
Prepared by Jamie Saettele
I wrote yesterday that “I expect a top as per the presented wave count but this is as far as the EURUSD can go with this count remaining favored.” The EURUSD has finally dropped sharply, having broken below its c wave channel. Focus is now on the weekly low (Monday) at 13570. If this is indeed a 3rd wave decline at multiple degrees of trend, then the severity of the drop will be breathtaking.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.