Euro Coils before Next Move
Prepared by Jamie Saettele, CMT
Barring a drop below 13360, 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. A drop below Monday’s 13365 low would shift focus to former resistance at 13300/30.
Bottom Line: Higher / Ttopping
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