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EURUSD February Low in Focus at 12975

EURUSD February Low in Focus at 12975

2012-03-14 21:21:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_eur-usd_body_eurusd.png, EURUSD February Low in Focus at 12975

Prepared by Jamie Saettele, CMT

Resistance tonight is 13045. Other than that, there is no change. “The downside remains favored and risk on shorts can be moved to 13190. 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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