Euro Trendline Support Just above Friday’s Low
Prepared by Jamie Saettele, CMT
The EURUSD ends Monday on a weak note and is nearing channel support and the Friday low at 13155. A drop below should find support at 13120. The critical level for the larger trend is the 2/6 low at 13026. Pattern is constructive above 13026 towards Fibonacci objectives at 13435 and 13630. 13220 is resistance tonight.
Bottom Line: Flat
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.