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EURUSD 12360-12400 is Resistance Zone

EURUSD 12360-12400 is Resistance Zone

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_eur-usd_body_eurusd.png, EURUSD 12360-12400 is Resistance Zone

Prepared by Jamie Saettele, CMT

Near term strength should present an opportunity to return to the short side. Congestion late last week at 12360-12400 (also 6/28 low) is now resistance. Focus remains on 12150. “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.”

LEVELS: 12100 12150 12250 12360 12400 12440

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

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