Consolidating; trend unclear | 02 December 2013
02 December 2013, EUR/USD
EUR/USD's overall trend is unclear, making it difficult to forecast the next move. A break above 1.3625, however, would help provide confirmation of a continuation of the current rally up to the count target at 1.3730. There is a lack of conviction in the move up in general, however, and the two legs of the recovery rally from 7th November lows look almost equal in length, and this continues to indicate the possibility of a downside shock taking the pair lower, first to resistance-turned-support at 1.3540, and then to the 1.3400 lows.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
