EURUSD Unchanged for Second Day
Prepared by Jamie Saettele, CMT
The EURUSD rally from the 3/15 low (13003) has stalled at the 20 day average / 2/9 high and just shy of the 61.8% retracement of the decline from 13486 (13301) and 3/8 high (13290). The inability of bulls to penetrate this level combined with the fact that the month to date high occurred on the first day of the month is bearish. 13120 is short term support.
Bottom Line (next 5 days): sideways/lower
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