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EURUSD Objective Now at 12150

EURUSD Objective Now at 12150

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_eur-usd_body_eurusd.png, EURUSD Objective Now at 12150

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.” Today’s action reinforces the bearish call and also offers up some objectives. 12150 was a pivot in June 2010 and is joined by the 161.8% extension of 12747-12406 / 12692 at 12142. The 61.8% extension of waves i-iii comes in at 12068. 12420/50 is now resistance and risk on shorts can be moved down to 12530.

LEVELS: 12150 12287 12350 12420 12450 12495

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

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