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Euro Rejected by Fibonacci Extension

Euro Rejected by Fibonacci Extension

2011-03-08 15:40:00
Jamie Saettele, CMT, Sr. Technical Strategist
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480 Minute Bars

TopHeadline_1_body_eurusd.png, Euro Rejected by Fibonacci Extension

Prepared by Jamie Saettele

As focused on in recent days, a drop below 13743 or an intraday decline in impulsive fashion is needed in order to suggest that top is in place. The decline from yesterday’s high is a good start and small 4th and 5th waves would give scope to a small corrective rally before accelerated weakness.

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