The euro charts give us several well-defined patterns and numerous possible trades. Since late July, the larger trend has been bullish, and at the moment the two strongest patterns give us twin pivots at 1.3137 and 1.3144, an area which might resist the euro should it rally from here. A short sale of that double-pivot should use a stop-loss not below 1.3152. In between here and there is a midpoint pivot at 1.3041. The larger of the two patterns projects as high as 1.3476. In the event that the euro heads down, there is a midpoint pivot at 1.2895 which might be a buy. The stop should be below 1.2890. (Posted by Doug “harry” McLagan)
