EUR/USD: Cannot rule out pullbacks - Natixis

As the daily stochastic struggles to recover, Micaella Feldstein, Research Analyst at Natixis suggests that they cannot rule out a new pullback to 1.1364-1.1382 even to 1.13-1.1320 (daily Bollinger moving average).

Key Quotes

“These dips won’t affect the underlying bullish trend: the upside parallels that have emerged on the daily chart indeed shows strong upside potential, supporting our view for another test of 1.1492-1.1508 (declining trendline).”

“The break of the latter would pave the way to 1.1554-1.1573 (weekly Bollinger upper band) and to 1.1604 (monthly Bollinger upper band). The supports stand at 1.1407-1.1422, at 1.1364-1.1382, at 1.3338-1.1347, at 1.13-1.1320 and at 1.12241.1248.”