The EURUSD is stabilizing ahead of 13255. I had been looking for a final low near 13255 (1/16 low) but the push above Friday's high suggests that a low may in place at 13305 (Friday's low). A break above the line that extends off of the 2/1 and 2/13 highs would warrant a bullish bias towards at least 13520.
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
To contact Jamie e-mail firstname.lastname@example.org. Follow me on Twitter for real time updates @JamieSaettele
Subscribe to Jamie Saettele's distribution list in order to receive actionable FX trading strategy delivered to your inbox.
Jamie is the author of Sentiment in the Forex Market.