Euro attempted to close the Sunday night gap yesterday but failed to better the key 1.3242 level. We would need to see a rally through 1.3242 to consider wave-5 down as complete. Until/unless Euro can better that level, there is still a case of an extension towards the high 1.30’s. S/t, a bear flag break puts pressure on Euro today, key downside support is 1.3153. A rally through 1.3221 on the other hand is the first sign of a bottoming process and will likely usher the upside breakout needed to confirm a more substantial rally ahead. Conviction: Med/High Levels: Support – 1.3170, 1.3150, 1.3082 Resistance – 1.3220, 1.3242, 1.3297
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