EUR/USD

DailyFX

EUR/USD Near Term Corrective Advance Complete?

Daily

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eliottWaves_eur-usd_1_body_eurusd.png, EUR/USD

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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FOREX Analysis: The only other thing to add to Thursday’s comments is that a 3 wave corrective advance may be complete at Friday’s high. “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: 1.3205 1.3250 1.3310 1.3417 1.3451 1.3500

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