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Euro Trendline Support Just above Friday’s Low

Euro Trendline Support Just above Friday’s Low

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_eur-usd_body_eurusd.png, 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.