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EUR/USD Classical Technical Report 10.11

EUR/USD Classical Technical Report 10.11

2011-10-11 07:49:00
Joel Kruger, Technical Strategist
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Daily_Classical_EURUSD_body_eur.png, EUR/USD Classical Technical Report 10.11

EUR/USD: Setbacks have stalled out for now by 1.3145 with the market in search of a fresh lower ahead of the next major downside extension below 1.3000. Overall, our outlook remains quite bearish and we continue to project deeper setbacks into the lower 1.2000’s over the coming weeks. Ultimately, only a daily close back above 1.3690 would delay outlook and give reason for pause.

--- Written by Joel Kruger, Technical Currency Strategist

To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger

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