EURUSD—weekly chart

The EW count suggests the pair is in a third wave, possibly beginning 3 of 3. If true, there's lots of downside ahead. Shorting rallies seems the best approach. This pair needs to get out of the doldrums and start moving. It's postponing the inevitable if down is indeed its direction and it's annoying the Euro bulls if it's going to go up.

Support:

1.3532/86
1.3361
1.3263
1.3000

Resistance:

1.3735
1.3801/41
1.3900

Here's the weekly chart:




© Dianne Fecteau, 2010. No part of this material may be reproduced in any form, or referred to in any other publication, without the express written permission of the author.

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