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EURUSD Next Bear Leg Underway

EURUSD Next Bear Leg Underway

Jamie Saettele, CMT, Sr. Technical Strategist


eliottWaves_eur-usd_body_eurusd.png, EURUSD Next Bear Leg Underway

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).” As focused on this morning, a small corrective advance may be complete from 13035 (4/5 low) at 13144 (Tuesday high). 13144 is in the vicinity of the former 4th wave extreme (where one would expect resistance anyway). If a more drawn out complex correction takes hold, then resistance is 13210 but the trend is considered down against 13380.

Bottom Line (next 5 days): lower

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