Daily Bars

eliottWaves_eur-usd_body_eurusd.png,

Prepared by Jamie Saettele, CMT

A EURUSD drop to a new low could complete the break from the triangle and decline from 14548. The February low at 13430 is of particular interest as is the temporary Elliott channel (see above). A weekly key reversal did form last week and the last 6 such reversals have indicated MAJOR tops and bottoms but several of those reversals occurred as much as 2 weeks after the key reversal week.