Euro Technical Outlook

Published May 18th, 2009 - 06:12 GMT
Al Bawaba
Al Bawaba

A push above 1.3742 is still required to satisfy the minimum requirement for wave Y, at which time I will expect a top and reversal (objectives are at points from 1.3800 to 1.4200). The near term trend is bullish as long as price is above 1.3250 but there is a count that could lead to a triangle unfolding as wave B from the March high (1.3742). Due to other USD counts, the bullish count seems more probable at this point.