EURUSD Bears in Control Below 13190
Prepared by Jamie Saettele, CMT
The downside remains favored and risk on shorts can be moved to 13190. Resistance is 13120 and 13160. Downside levels of interest are the 2/16 low at 12974, 100% extension of the 13485-13103 decline at 12900, and 1/13 high at 12878. A break of the downward sloping channel would indicate that the decline from 13485 is probably impulsive and shift focus to the January low.
Bottom Line (next 5 days): down
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