Euro Could See Hiccup before Strength Resumes

60 Minute Bars

Prepared by Jamie Saettele, CMT

The break above end of January / early February consolidation is expected to extend towards the mid 13400s. The 50% retracement of the decline from the October high comes in at 13435 and bullish channel resistance is just above that level. Of note however is the 5 wave structure from the 2/6 low. A corrective decline into 13170-13200 would present an opportunity to get long.

Bottom Line flat