Euro Technical Outlook

The drop below 1.5364 negates the short term bullish bias.

The preferred count that calls for strength for current levels is intact as long as price is above 1.5283. A drop below there indicates that a C wave is underway towards 1.5108 (100% ext. of wave A from 1.6018) or even 1.4653 (161.8% ext.). The pattern should resolve itself in the next day or two.

Visit our recently updated Euro Currency Room for specific resources geared towards this currency.