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Forex pairs in this Article » EUR/USD (New York) - According to Head of Global Markets Research Tim Riddell at ANZ, “We recommend caution facing a short-term EUR/USD squeeze.”

However, interim rebounds should struggle in the 1.3125-50 area before range defining slippage resumes. A close below 1.3000 is needed to reduce the risk of an interim squeeze and suggest a secondary position-flipping slide to test 1.2700 within the context of redefining the broader 1.25-1.37 range. “Once again, the head and shoulders pattern may be mentioned, but should produce little other than talk.” Riddell notes.
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