Tatsiana Ketrar
Alan Ruskin from Deutsche Bank says EURUSD still may rally up to 1.35. The data provided by the CFTC testify to the fact that the short positions for EURUSD have shrunk by 8%.
A break above 1.35 will give way to further strengthening, Ruskin assumes. In longer-term perspective, the strengthening will cause a wave of sales on condition that EURUSD doesn’t exceed 1.45.
According to the Department of Masterforex-Trading System, EURUSD continues its long-term uptrend, thus implementing the bullish scenario given in the outlook for Feb 8th 2012. EURUSD is in the process of forming sub-wave C(C ) inside a long-term upswing (wave A/B). The closest levels of resistance are 1.3375, 1.3434, 1.3464. The current sub-wave will be completed as soon as the price breaks below the MF sloping channel and pivot 1.3233 (as shown below):
Tatsiana Ketrar
