EURUSD Technicals for July 26th
120 Minute Bars
Prepared by Jamie Saettele
After rallying over 1000 pips from its June low, it may be time for at least a sizeable setback if not a continuation of the larger downtrend. At this point, the rally from the June low is in 3 waves, which is corrective. I am watching a channel line for support. Additional strength would shift focus to 13115/85.
Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Monday evenings), technical analysis of currency crosseson 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 firstname.lastname@example.org.
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