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EURUSD Pullback Expected from Resistance

EURUSD Pullback Expected from Resistance

2012-03-08 00:36:00
Jamie Saettele, CMT, Sr. Technical Strategist
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60 Minute Bars

eliottWaves_eur-usd_body_eurusd.png, EURUSD Pullback Expected from Resistance

Prepared by Jamie Saettele, CMT

The EURUSD has reached resistance from former support at 13280. Expect a partial retracement of the impulsive advance from the lows before another similar advance. Supports in the coming days are 13225 and 13180. Continued strength from the current level would target 13310/30. A range strategy is preferred (shorts above 13300 and longs at mentioned supports).

Bottom Line (next 5 days): sideways

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