EURUSD Focus is on 12434 and 12360
Prepared by Jamie Saettele, CMT
As focused on in the weekly, the rally from the June low is the model of a correction, thus focus is lower towards 12434 and 12360 this week and a break below 12287 is expected in July. What is up in the air is whether or not the decline continues from below 12566 (Monday high). In other words, either a small 2nd wave is in place at Friday’s high or the EURUSD will slightly exceed that level before falling towards mentioned levels. The question is largely academic as both scenarios ultimately point lower.
LEVELS: 12287 12360 12435 12530 12580 12635
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