Euro Shows Signs of a Low
Prepared by Jamie Saettele, CMT
The EURUSD touched its January low yesterday at 12858 before finding bids. Despite the low volatility environment, yesterday’s reversal could be the beginning of larger recovery back towards. Still, I wouldn’t try the long side until volatility returns next week. Resistance is 13020/50 and support 12955. A drop under 12858 would expose the August 2010 low at 12590.
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