EUR/USD to regain recent uptrend? – ANZ

By FXstreet.com | June 06, 2014 AAA

FXStreet (Guatemala) - Tim Riddell, Head of Global Markets Research, explained the recent slippage below 1.3775 in EUR/USD has increased the possibility that a medium-term cycle has completed on the virtual test of 1.4000.



Key Quotes:



“This does not necessarily mean a collapse, but more likely a corrective pullback over coming months”.



“Although a distinct wedge-like pattern has been broken, confirmation of the potential pullbacks towards 1.3250 (or even 1.3015) would only be gained on a weekly close below 1.3475”.



“As noted, the expected profile is one of corrective pullbacks and so it is highly likely that there will be periods of sharp squeezes to threaten - but fail - to regain the recent uptrend”.



comments powered by Disqus
Related Forex Analysis
  1. GBP/USD claws to 1.6100 ahead of Europe
    Forex News

    GBP/USD claws to 1.6100 ahead of Europe

  2. EUR/USD glued to 1.2755; triggers are wanted
    Forex News

    EUR/USD glued to 1.2755; triggers are wanted

  3. Asia recap: most majors are still sleeping in a ranges; JPY is weakening
    Forex News

    Asia recap: most majors are still sleeping in a ranges; JPY is weakening

  4. Gold Struggling Below $1250, SPX 500 Trying to Retake 1900 Figure
    Forex News

    Gold Struggling Below $1250, SPX 500 Trying to Retake 1900 Figure

  5. US Dollar Technical Analysis: Stalling at Channel Support
    Forex News

    US Dollar Technical Analysis: Stalling at Channel Support

Trading Center