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Euro 13800 Remains of Interest of Double Doji

Euro 13800 Remains of Interest of Double Doji

2011-09-21 16:03:00
Jamie Saettele, CMT, Sr. Technical Strategist
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300 Minute Bars

eliottWaves_eur-usd_body_eurusd.png, Euro 13800 Remains of Interest of Double Doji

Prepared by Jamie Saettele, CMT

“A EURUSD drop to a new low could complete the break from the triangle and decline from 14548. The February low at 13430 is of particular interest as is the temporary Elliott channel (see above). A weekly key reversal did form last week and the last 6 such reversals have indicated MAJOR tops and bottoms but several of those lows occurred as much as 2 weeks after the key reversal week.” Near term strength into the 61.8% retracement at 13800 would present a short opportunity against 13936.

Trend Strength (M,W,D) – 0, (1), (1)

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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 jsaettele@dailyfx.com.

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