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  • 🇪🇸 Markit Manufacturing PMI (JUL) Actual: 59 Expected: 59.5 Previous: 60.4 https://www.dailyfx.com/economic-calendar#2021-08-02
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EURUSD Taking its Time Before Next Move

EURUSD Taking its Time Before Next Move

Jamie Saettele, CMT, Sr. Technical Strategist

DailyBars

eliottWaves_eur-usd_body_eurusd.png, EURUSD Taking its Time Before Next Move

Prepared by Jamie Saettele, CMT

Look lower as long as price is below the April high of 13379. Watch the channel closely as a drop below would be a ‘tell’ that the decline from 13379 is a 3rd wave rather than a C wave. On the other hand, a rebound from that level (or spike below and recovery) would favor a C wave interpretation. A test of 13210/50 may take place before the next bear wave but I believe that being short is the correct position.

Bottom Line (next 5 days): lower

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