FOREX Technical Analysis: EUR/USD 13250 is Still Estimated Support if Reached

By Jamie Saettele, CMT | DailyFX – Wed, Jan 23, 2013 5:22 AM SGT

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SymbolPriceChange
EURUSD=X1.28420.00

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eliottWaves_eur-usd_body_eurusd.png, FOREX Technical Analysis: EUR/USD 13250 is Still Estimated Support if Reached

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: The EURUSD has traded sideways since 1/14 and there is no change - “A yearlong bottoming pattern has been confirmed as complete and the first EURUSD objective isn’t until above 13800 (61.8% of decline from 2011 high and where the rally from the 2012 low would consist of 2 equal legs).”

FOREX Trading Strategy: Given the significance of the longer term bottoming pattern, I’m willing to stay bullish as long as price is above 13100. Any entries will be posted on Twitter @JamieSaettele.

LEVELS: 13152 13200 1325013371 1340313485

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    NamePriceChange% Chg
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    USDSGD=X
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    EURSGD=X
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    GBPSGD=X
    82.05930.35+0.43%
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    CLM13.NYM
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