28 Jul 2014
Credit Suisse: EUR/USD continues to consolidate recent losses - eFXnews
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.’
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.’