Credit Suisse: EUR/USD continues to consolidate recent losses - eFXnews

By FXstreet.com | Updated July 28, 2014 AAA

FXStreet (Łódź) - The eFXnews team comment on Credit Suisse’s technical setup for EUR/USD, suggesting that the pair holds a bearish "wedge" and a “head & shoulders” top for 1.3374 initially, then 1.3248.



Key quotes



“We look for further weakness to 1.3399 initially, then the 50% retracement of the 2013/14 rise at 1.3374.”



“We allow for a bounce here ahead of our target at 1.3248/28 – the 38.2% retracement of the entire 2012/2014 uptrend.”



“While we would expect this to hold at first, bigger picture, we see scope for 1.2755.”



“Resistance shows at 1.3486/95 initially, above which can see a move back to 1.3531, with 1.3550/53 ideally capping to keep the immediate risk lower.”



‘This content has been provided under specific arrangement with eFXnews.’



You May Also Like

Related Forex Analysis
  1. EUR/USD back to 1.2520, again
    Forex News

    EUR/USD back to 1.2520, again

  2. Japanese Yen Remains an Attractive Sell Opportunity until this Changes
    Forex News

    Japanese Yen Remains an Attractive Sell Opportunity until this Changes

  3. Euro Looks Likely to Test $1.26 versus the US Dollar
    Forex News

    Euro Looks Likely to Test $1.26 versus the US Dollar

  4. EUR/USD has 1.2580 in the crosshairs
    Forex News

    EUR/USD has 1.2580 in the crosshairs

  5. EUR/USD consolidating between 1.2500 and 1.2570 – FXStreet
    Forex News

    EUR/USD consolidating between 1.2500 and 1.2570 – FXStreet

Trading Center