Dollar and Yen Surge; Short Term Euro Buy Opportunity
Regardless of the next larger count, I do expect additional strength towards 12620 (resistance zone is 12600-12750) based on the structure of advance from the low. The rally is an impulse (5 waves). Short term support is between 12230 and 12260.
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 email@example.com.
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