DailyBars

 

The larger correction scenario was the proper interpretation and shorts were stopped out today at breakeven (as per Twitter). The good thing for us is that the EURUSD rally should present another decent short opportunity is probably around the corner. Currently testing resistance at 12575, support is now 12510 and resistance remains 12625/40 (January low, 5/18 low and 20 day average) and 12725 (channel).

Prepared by Jamie Saettele, CMT for DailyFX