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Jamie Saettele, CMT, Sr. Technical Strategist

EUR/USD 1.2934 is Estimated Support


eliottWaves_eur-usd_body_eurusd.png, EUR/USD

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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FOREXAnalysis: Wrote in the last update on 6/24 that “evidence of a more important top is seen by last Wednesday’s JS Spike (key reversal + volatility conditions). The last such setup was on 4/4, which proved to be an important low.” The EURUSD has continued lower but the structure is anything but clear. Regardless, watch for support at 1.2934 if reached.

FOREX Trading Strategy: Flat

LEVELS: 1.2796 1.2837 1.2934 1.2999 1.30771.3142

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