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FOREX Technical Analysis: EUR/USD Estimated Support at 13270-13300

FOREX Technical Analysis: EUR/USD Estimated Support at 13270-13300

Jamie Saettele, CMT, Sr. Technical Strategist

DailyBars

eliottWaves_eur-usd_body_eurusd.png, FOREX Technical Analysis: EUR/USD Estimated Support at 13270-13300

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: A yearlong bottoming pattern has been confirmed as complete and the first EURUSD objective isn’t until above 13800 (61.8% of decline from 2011 high and where the rally from the 2012 low would consist of 2 equal legs). Estimated support is 13270-13308.

FOREX Trading Strategy: Looking to buy EURUSD on weakness into mentioned support.

LEVELS: 13270 13308 1333513403 1348513570

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

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