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Euro Short Term Bearish Pattern

Euro Short Term Bearish Pattern

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

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