Euro Technical Outlook

Published May 14th, 2009 - 06:56 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).  Near term, I favor additional weakness to complete the correction from 1.3720.  Look for support in the 1.3430/90 zone. Again, the larger trend is considered bullish against 1.3251.