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EUR/USD Classical 05.13

EUR/USD Classical 05.13

2010-05-13 05:10:00
Joel Kruger, Technical Strategist
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EUR/USD:  While our overall bias remains extremely bearish on the pair over the medium-term, daily and weekly studies are in the process of undergoing a very much needed and healthy consolidation. However, a lower top could now be in place by 1.3100 ahead of the next fresh downside extension below 1.2530. In the interim, we remain sidelined.  Key levels to watch over the coming session come in by 1.2740 and 1.2530.

 

Written by Joel Kruger, Technical Currency Strategist for DailyFX.com 

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