300 Minutes Bars

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Prepared by Jamie Saettele, CMT

The EURUSD is expected to break its range soon but if the initial break is lower, it may complete a correction. The 100% extension of the decline from 14535-14055 at 13950 intersects channel support Monday. To review - "The decline from the May high is still left as a 3 wave decline...a drop under 14054 may complete a correction from 14535. Watch the short term channel for support." The 200 day average at 13942 reinforces the area.