ECM10 – June Euro (Last:1.3686)

After Friday’s strong rally in the Euro, which exceeded three prior highs on the daily chart, the substantial Monday pullback should have us looking to get long for some bullish follow-through.  The “X” point shown on the chart is two pips below an important prior high at 1.3707, visible on the 15-minute and lower timeframes.  Traders should look for a pullback from just above that level to provide a buying opportunity based on a smaller pattern.  (Posted by Doug McLagan)