Euro Range Develops-Awaiting Resolution
60 Minute Bars
Prepared by Jamie Saettele, CMT
The EURUSD rally yesterday morning is best treated as a B wave (Monday’s decline wave A). In any case, respect an upside break if it occurs especially since the Monday decline is in 3 waves. Exceeding the mid September high of 13940 would shift focus to the 200 dma at 14080. Coming under 13650 (favored) shifts focus to 13564.
Trend Strength (M,W,D) – (1), 0, 1
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