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EUR/USD Classical Technical Report 12.13

EUR/USD Classical Technical Report 12.13

2011-12-13 07:44:00
Joel Kruger, Technical Strategist
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Daily_Classical_EURUSD_body_eur.png, EUR/USD Classical Technical Report 12.13

EUR/USD: The latest corrective rally appears to have stalled out by 1.3550 and the market looks poised for a bearish resumption to challenge the critical October lows at 1.3145. A daily close below 1.3145 is significant and will open the door for deeper setbacks over the coming weeks and months into the lower 1.2000 region. Ultimately, only a daily close back above 1.3550 will negate 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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