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Euro Could See Hiccup before Strength Resumes

Euro Could See Hiccup before Strength Resumes

Jamie Saettele, CMT, Sr. Technical Strategist

60 Minute Bars

eliottWaves_eur-usd_body_eurusd.png, Euro Could See Hiccup before Strength Resumes

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

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