We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Bearish
Gold
Bullish
Oil - US Crude
Bearish
Bitcoin
Bearish
More View more
Euro Short Term Bearish Pattern

Euro Short Term Bearish Pattern

2011-03-09 15:40:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

60 Minute Bars

TopHeadline_1_body_eurusd.png, Euro Short Term Bearish Pattern

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 in 5 waves therefore I favor the downside. 13742 is an initial support area. Keep in mind that COT data warns of a top as does the interest rate differential.

Click here to see outlooks for the rest of the USD majors.

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

DISCLOSURES

News & Analysis at your fingertips.