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EURUSD Short Entry on a Bounce

EURUSD Short Entry on a Bounce

2012-04-05 20:56:00
Jamie Saettele, CMT, Sr. Technical Strategist

DailyBars

eliottWaves_eur-usd_body_eurusd.png, EURUSD Short Entry on a Bounce

Prepared by Jamie Saettele, CMT

Focus remains on 13003 and 12877 (1/13 high…100% extension of decline from the top is at 12903 as well) but the specter of 5 waves down from 13380 gives scope to a corrective advance back towards 13165. 13105 acts as interim resistance. Watch the underside of the freshly broken January-March trendline for resistance as well.

Bottom Line (next 5 days): lower

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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