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SMRA on EUR/USD
Techs, from SMRA's Michael Saccitello; Bigger picture, post-11/30 euro strength is still viewed as part of a corrective structure. After today's break above the 12/03 pivot, however, the potential for the 3rd leg (C) of this structure to extend through $1.3635/1.3709 has increased. As long as $1.3363 holds, the short-term case remains immediately bullish for the euro. Movement below $1.3363 would introduce initial potential through $1.3291, with key Fib points at $1.3341 and $1.3304 along the way.
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