ECH10 – March Euro (Last:1.3540)

After declining sharply since early December, the Euro has begun to turn sideways.  There is strong hidden pivot support just under the 2010 low, provided by D targets at 1.3398 and 1.3387.  The first of these is from a daily pattern that has remained active for almost three weeks.  The latter is from a 90-minute pattern which will be in effect so long as 1.3581 is not revisited.  Its sibling midpoint is at 1.3484.  Below all of these levels is another hidden pivot at 1.3344_______ UPDATE (5:24 p.m. EST):  The Euro traded through the 1.3484 midpoint and made a new 2010 low, but it reversed above our other targets and rallied far enough to cancel the 90-minute pattern.  Pivots at 1.3398 and 1.3344 will remain in effect so long as 1.3840 is not revisited.