Euro Channel Resistance Put to Test
300 Minute Bars
Prepared by Jamie Saettele, CMT
Believe it or not but the series of EURUSD lower lows is intact as long as price is below 13567. A push above there would encounter resistance from the November 1 low at 13607 and 11/18 high at 13613. Currently threatening channel resistance, price needs to turn down now in order for bears to maintain control. 13400 is now near term support. Of note is the 20 day average, which has served as resistance for the last 2 days.
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