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EURUSD Trades into Short Term Resistance Zone

EURUSD Trades into Short Term Resistance Zone

Jamie Saettele, CMT, Sr. Technical Strategist

240 Minute Bars

eliottWaves_eur-usd_body_eurusd.png, EURUSD Trades into Short Term Resistance Zone

Prepared by Jamie Saettele, CMT

“Friday’s advance (which may have completed wave C of a flat) reversed before the June high, which keeps me looking lower towards Thursday’s low at 12406. Interim support comes in at 12523. Bigger picture, the June rally is viewed in a corrective light and probably a 4th wave. Near term resistance extends to 12640.

LEVELS: 12365 12406 12523 12640 12692 12746

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.