Credit Suisse notes the risk of a return of the uptrend on EUR/USD.
«EUR/USD has enjoyed another solid session to break the resistance of the 1.1827/38 – the top of the end of September, and retracement 38.2% of the fall in September/October – and then on top of the neck line to a peak at 1.1867, increasing the risk of end of correction and resumption of the uptrend.
We expect a movement towards 1.1895/97, and then potentially into 1.1913/18.
Above 1.1938 we would have a confirmation of a resumption of the uptrend towards 1.2005 initially, before 1.2034, and the September summit at 1.2092.
The holder comes to 1.1840/34 initially, then 1.1795, below which it will be necessary to break, to weaken the upside risks to immediate and go back to 1.1717. A break below might call for the 1.1669/62. «