Euro Nears Range Low – February Low at 13430 is of Interest

By Roger Baettig | September 19 2011 2:17 PM

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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.

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