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Forex pairs in this Article » EUR/USD (Guatemala) - Strategists at TD Securities look into the technical side of the EUR/USD and offer a bearish outlook.

Key Quotes:

“The rejection of the 1.38+ levels through late 2013 and the break of the November/December bull trend remain the salient features of the daily chart from a bigger picture point of view and we remain of the opinion that the longer-term trend has topped out and should reverse”.

“However, near-term signals are more neutral than anything—momentum is weak and indicative of a market that wants to move sideways”.

“We continue to feel that EUR gains represent a selling opportunity and we continue to think EURUSD should test the 1.33/1.35 area (as a consequence of the failure above 1.38) but that may not happen too soon”.
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