7 Aug 2013
Flash: EUR/USD below 1.3265 could begin correction - ANZ
FXstreet.com (Barcelona) - ANZ strategists note that EUR/USD is persisting within a broad range between 1.2500-1.3700.
Key Quotes
“Note that the Head and Shoulders pattern risk proved to be unfounded (they’re only powerful as reversal patterns!).”
“Current gains look relatively impulsive, but an interim correction, back towards 1.3050, is likely to develop.”
“A slip now below 1.3265 could begin the correction (confirmed below 1.3225).”
“If support proves to be solid at 1.3050, another push towards 1.3500 may develop as range defining continues.”
Key Quotes
“Note that the Head and Shoulders pattern risk proved to be unfounded (they’re only powerful as reversal patterns!).”
“Current gains look relatively impulsive, but an interim correction, back towards 1.3050, is likely to develop.”
“A slip now below 1.3265 could begin the correction (confirmed below 1.3225).”
“If support proves to be solid at 1.3050, another push towards 1.3500 may develop as range defining continues.”