EURUSD is Bearish Below Friday High
240 Minute Bars
Prepared by Jamie Saettele, CMT
The surge through 12523 eliminated the aggressive 3rd wave interpretation from that level. Still, Friday’s advance (which may have completed wave C of a flat) reversed before the June high and nearly half the advance was retraced today. I’m looking lower towards Thursday’s low at 12406 although interim support comes in at 12523. Bigger picture, the June rally is viewed in a corrective light.
LEVELS: 12365 12406 12523 12620 12692 12746
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