EUR/USD Weekly View

Update: EUR/USD Weekly View – Trend is down after a 50% retracement

5 June 2014/11:09 a.m. ET

Issue #1663

EUR/USD Weekly [last 1.3613]: After a powerful rally to the 50% retracement of the entire move from the 1.6037 all-time high to the post credit crunch low of 1.1875, the pair is turning down, supported by the price oscillators (which showed divergence into the price high).  Next major weekly support is at 1.3475-65.

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Jack Crooks

President, Black Swan Capital

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info@blackswantrading.com

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