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Euro at Trendline Support

Euro at Trendline Support

2011-03-28 15:40:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

TopHeadline_1_body_eurusd.png, Euro at Trendline Support

Prepared by Jamie Saettele

The EURUSD has dropped to trendline support and the decline consists of 2 equal legs. With near term wave structure appearing incomplete, the upside remains favored. A above 14282 would shift focus to 14360 (61.8% extension of rally from 11875) and 14413 (100% extension of 12873-13855 rally). A drop below 13866 is needed in order to suggest a reversal.

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