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Euro Rolls Over-Focus on 13542

Euro Rolls Over-Focus on 13542

2011-02-10 16:00:00
Jsaettele,
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240 Minute Bars

eliottWaves_eur-usd_body_eurusd.png, Euro Rolls Over-Focus on 13542

Prepared by Jamie Saettele

As mentioned yesterday – “once this small upward correction is complete, the EURUSD is expected to collapse in a powerful 3rd wave decline. It should be worth the wait.” The corrective channel break suggests that the sharp 3rd wave decline is underway. A drop below 13507 would shift focus to the 100% extension at 13429 and the 50 day average at 13361. 13610 and 13650 serve as short term resistance.

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