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Euro Strong; 13650 Would be Next Resistance

Euro Strong; 13650 Would be Next Resistance

2010-03-31 14:52:00
Jamie Saettele, CMT, Sr. Technical Strategist
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eurusd0331

 
I maintain that the EURUSD is headed lower, but probably in a 5th wave ending diagonal at this point.  The larger bearish bias is valid against 13822 although a small 2nd wave top could be in place at 13540.  Continued strength would target 13650 (next sell area).     
 
Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Friday evenings), technical analysis of currency crosses on Monday, Wednesday, and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forum.  He is the author of Sentiment in the Forex Market.  Follow his intraday market commentary and trades at DailyFX Forex Stream.   Send requests to receive his reports via email to jsaettele@dailyfx.com.

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