EUR/USD Still Supported; Intraday Trade is Sloppy
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
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FOREX Analysis: 5 waves down from the top suggest that a EURUSD top is in place but another day (at least) of chop may need to take place before a sharper decline. I’m not ruling out a new high either as I’ve seen plenty intraday impulsive declines that have failed to trigger more important reversals.
FOREX Trading Strategy: Evidence points to topping but not enough for me to be short…yet.
LEVELS: 1.3250 1.3310 1.3355 1.3417 1.3451 1.3500