Jordan Kotick, global head of technical analysis at Barclays, calls the late 2005/early 2006 EUR/USD rally to $1.23 “corrective and counter-trend.” Alook reinforces that view, as a series of lower lows and lower peaks are evident from the December 2004 high.
Looking at the intermediate-term picture, Kotick believes there is more dollar bullishness to come.
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