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EUR/USD Classical Technical Report 04.11

EUR/USD Classical Technical Report 04.11

Joel Kruger, Technical Strategist
Daily_Classical_EURUSD_body_eur.png, EUR/USD Classical Technical Report 04.11

EUR/USD: The latest round of setbacks have stalled ahead of some key multi-week support by 1.3000 and from here, we still can not rule out risks for a shorter-term bounce back towards the 1.3200-1.3300 area, before considering bearish resumption. Ultimately, any rallies towards 1.3300 should be very well capped, while a break and close back under 1.3000, would accelerate declines.

--- Written by Joel Kruger, Technical Currency Strategist

To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger

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