Euro Reversal?

Friday, 28 September 2007 12:24:38 GMT
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Previous Articles

* Sep 28 - Euro Reversal?
* Sep 27 - Euro May Test 1.4200 Before a Reversal
* Sep 26 - Euro Ending Diagonal
* Sep 25 - Euro In Deeper Correction?
* Sep 24 - Euro 5 Waves Complete at 1.4130?
* Sep 21 - Euro Registers High Above 1.4100
* Sep 20 - Euro Breaks 1.4000
* Sep 19 - Euro to 1.4000 but Upside Potential is Limited
* Sep 18 - Euro Wave 4 Correction Possibly Complete
* Sep 14 - Euro Wave 4 Correction Underway
* Sep 13 - Euro All-Time High
* Sep 12 - Euro Testing 1.3900
* Sep 11 - Euro Working Towards 1.4000
* Sep 10 - Euro Tests 1.3800
* Sep 07 - Euro Bullish Against 1.3551
* Sep 06 - Euro Decline 5 Waves Up Warrants Bullish Bias
* Sep 05 - Euro Decline Appears Corrective So Far
* Sep 04 - Euro Working Lower
* Aug 31 - Euro Could Still Test 1.3750
* Aug 30 - Euro Large B Wave Correction

Written by Jamie Saettele, Currency Analyst
Commentary: We wrote yesterday that “an ending diagonal may be unfolding in wave 5 from 1.4040. This remains a possibility as long as price is above 1.4061. One more high may complete the larger advance near 1.4200. The upper diagonal line is close to 1.4200. A rally to there may complete the advance from 1.4041 and possibly a larger rally. A drop below 1.4111 signals a short opportunity against the high.” There is no change to the call for a top and reversal that brings the EURUSD back to at least 1.4040. The area surrounding 1.4200 should provide strong resistance.