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EURUSD Inside Day at 20 Day Average

EURUSD Inside Day at 20 Day Average

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_eur-usd_body_eurusd.png, EURUSD Inside Day at 20 Day Average

Prepared by Jamie Saettele, CMT

I wrote yesterday that “support for Tuesday is 13185 but the specter of 5 waves up from 13002 demands that we respect the potential for a deeper corrective decline into 13120/40 before resumption of the bull trend.” The EURUSD traded to 13170 before recovering in the US session. A drop into the mentioned 13120/40 still cannot be ruled out.

Bottom Line (next 5 days): sideways

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