The Euro is now below all major moving averages and the 2013 uptrend; the next key trend/pivot zone is 1.3510 to 1.3480. The 1.3510/3480 zone is anchored by an uptrend from 2012 and pivot lows from the last few months. We expect a break below to usher a continuation of the downtrend from 1.40 in May. (daily) S/t, the Euro is early in wave-3 and starting a series of extensions. Momentum is deeply oversold on the hourly chart and this suggests that a 3rd wave of minor degree is wrapping up. With major support at 1.3510, we’ll look to that level for a minor bounce. Strong resistance is now 1.3576 making the proposed range for the next day(s) 1.3576/1.3510. (hourly) Conviction: Med/High Levels: Support – 1.3510, 1.3480, 1.33 Resistance – 1.3562, 1.3576, 1.3628
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