EUR/USD Weekly Technical Report 6-10/1/2014

The pair dropped affected by breaking the bullish minor support showing on graph. The pair reached the main support of the ascending channel but is currently trading below 50% correction. The week’s move will depend on 1.3520 levels represented in 61.8% correction, whereas stability above the referred to level might trigger a bullish attempt while trading normally within the ascending channel. Of note, breaking the referred to level will trigger a downside move targeting 78.6% and 88.6% correction at 1.3425 and 1.3365 consecutively.