Euro Measured Level at 14450
240 Minute Bars
Prepared by Jamie Saettele, CMT
I am looking higher towards 14345. Exceeding that level could complete a flat from the 5/15 low. It is also possible that the decline from 14940 is a completed correction (3 waves). Both of these counts point higher to at least 14450 – which is the 161.8% extension of wave a and the 50% retracement of the decline from 14940. Exceeding 14450 gives scope to a test of 14490-14520 (pivots in April). 14200 is short term support.
Support/Resistance Index (M,W,D) – (3), (1), 3
Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Monday), technical analysis of currency crosseson Wednesday and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forex Stream. A graduate of Bucknell University, he holds the Chartered Market Technician (CMT) designation from the Market Technician Association. He is the author of Sentiment in the Forex Market. Send requests to receive his reports via email to firstname.lastname@example.org.
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