Flash: EUR/USD stalling ahead of 1.3833 peak - Commerzbank

FXstreet.com (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank notes that EUR/USD eased back slightly on Thursday and Friday and appears to be stalling ahead of the 1.3833 recent peak.

Key Quotes

“Ideally we would like to see this hold and provoke initial failure and we note that the Elliott wave count on the intraday charts has become more negative (however there are conflicting signals).”

“In order to alleviate upside pressure however a break below the uptrend at 1.3575 is needed.”