• SMRA on EUR/USD

Market news

14 December 2010

SMRA on EUR/USD

Techs, from SMRA's Michael Saccitello; Bigger picture, post-11/30 euro strength is still viewed as part of a corrective structure. After today's break above the 12/03 pivot, however, the potential for the 3rd leg (C) of this structure to extend through $1.3635/1.3709 has increased. As long as $1.3363 holds, the short-term case remains immediately bullish for the euro. Movement below $1.3363 would introduce initial potential through $1.3291, with key Fib points at $1.3341 and $1.3304 along the way.

Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.