EURUSD Bearish Opportunity Towards 12185 and Below
60 Minute Bars
Prepared by Jamie Saettele, CMT
Continue to look lower in the EURUSD as long as price is below 12442. Even if a triangle or flat is unfolding as wave 4 from 12040, most of the trading from here would still take place at lower levels. Downside levels of interest if price continues lower now are 12184 (100% extension of decline from the top) and 12133 (August low), although a drop below 12041 is expected eventually in wave 5. “Daily RSI failing at the previous swing high is encouraging for bears.”
LEVELS: 12185 12240 12300 12351 12385 12441
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