EURUSD – needs a hold above 1.3462 to keep 1.3645 target intact

The bull flag in Euro has not resolved higher yet as expected and it is troubling that prices are breaking the September uptrend. Although the wave-4 low appears to be in place ahead of a strong rally to 1.3645, our bullish outlook is in danger of being invalidated with a move below 1.3462.

S/t, key resistance is the recent pivot high at 1.3537 because a rally through this level will offer a confirmed bull flag resolution. Multiple targets align near 1.3645 to complete wave-(3); wave-1=5, wave-i*2.618 and the midpoint technique all target 1.3645 as a wave-(3) high. Critical to this call is the ability to hold above 1.3462.
Levels: Support – 1.3476, 1.3447, 1.3418 Resistance – 1.3519, 1.3569, 1.3608

Read the full report: EURUSD



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