Euro Technical Outlook

As mentioned yesterday, “due to the fact that the pair remains close to the center of a large correction, I can not be confident that 1.3310 will hold. In fact, given that a triangle or flat is probably underway, I see it as unlikely that 1.3310 holds up.”

There is a potential short term resistance line just shy of 1.40 for the next several days. A drop below 1.3310 would target support near 1.31 (former resistance) and ideally complete small wave b.

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