EUR/USD May Find Minor Low as Part of Larger Topping Process
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-On 12/27, EURUSD traded into the line that extends off of the 2008 and 2011 highs and reversed. On 1/2, price broke below the line that extends off of the 11/7 and 11/21 lows.
-The decline is impulsive and has reached possible support from a trendline and specifically 1.3550. A minor (several days) low could form nearby but expect strength to prove corrective and fail. 1.3745 is of particular interest as resistance.
Trading Bias: Flat
LEVELS: 1.3440 1.34901.3547 | 1.3600 1.3656 1.3744
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