Euro Takes out 13745
Prepared by Jamie Saettele
The dominant pattern is the 3 wave rally from 11875 which is bearish. On a net basis, the EURUSD hasn’t gone anywhere for several months and price is in the center of its 4 month range. I honestly have no idea which way the EURUSD is going next. As long as price is below 13861 (February high), I am bearish but the decline from 13861 is not an impulse at this point so price could very well exceed that level. Above 13861 would give scope to a test of 14000.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.