The Euro has satisfied the price requirement for this correction which makes 1.37 a likely high for the near to medium term. Whether wave-(2) is complete (or just wave-a of (2)) the target for the next leg lower is now 1.3364 at a minimum. A critical level to watch is the uptrend line from July at 1.3595. S/t, support is between 1.3570/50, although that could just mark wave-b of a correction we would err on the side of further weakness to the 1.3400/3364 target zone. Strong resistance is now the recent congestion between 1.3687/3699. Look for a range today between 1.3638/1.3572. Conviction: Med/High Trade: Flat. Look to be short below 1.3620 confirmation level. Levels: Support – 1.3572, 1.3549, 1.3400 Resistance – 1.3638, 1.3687, 1.3699
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