EUR/USD Trading Between Slope Lines
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-“5 waves down from the May high, EURUSD could make it back to 1.2886 (former 4th wave) but the downside is favored as long as below 1.2600.”
-A good deal of support rests under 1.2300 but the swing remains lower until price can establish above 1.2600. The downtrend weakens above 1.2506 (would be an outside weekly reversal at that point).
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