Euro Rolls Over-Focus on 13542
240 Minute Bars
Prepared by Jamie Saettele
As mentioned yesterday – “once this small upward correction is complete, the EURUSD is expected to collapse in a powerful 3rd wave decline. It should be worth the wait.” The corrective channel break suggests that the sharp 3rd wave decline is underway. A drop below 13507 would shift focus to the 100% extension at 13429 and the 50 day average at 13361. 13610 and 13650 serve as short term resistance.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.