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EURUSD Gap at 13180 is Now Resistance

EURUSD Gap at 13180 is Now Resistance

2012-05-07 22:04:00
Jamie Saettele, CMT, Sr. Technical Strategist
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eliottWaves_eur-usd_body_eurusd.png, EURUSD Gap at 13180 is Now Resistance

Prepared by Jamie Saettele, CMT

The EURUSD dropped through the multi month range low on Sunday evening before reversing sharply and closing near the highs of the day Monday. Additional upside may be needed to punish those that chased the lows but expect resistance at 13080-13120. Downside levels of interest are 12880 and 12810 (resistance levels from January).

Ideas:

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