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Euro Longs Favored above 13270

Euro Longs Favored above 13270

2012-02-27 21:40:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_eur-usd_body_eurusd.png, Euro Longs Favored above 13270

Prepared by Jamie Saettele, CMT

Barring a drop below 13270, continue to look higher in the EURUSD towards measured objectives at 13584 (100% extension of 12623-13234 rally) and 13627 (61.8% retracement of decline from the 10/27/11 high). The former level intersects short and long term channels on Thursday. Expect support just under the market from 13340 to 13355.

Bottom Line: Higher

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