Technical analysts at Mizuho Corporate Bank note that last week the pair EUR/USD formed second in a row weekly “shooting star” figure above the top of the weekly Ichimoku Cloud. According to the specialists, this underlines euro’s struggle to overcome the 1.3800 zone.

However, Mizuho strategists draw investors’ attention to the fact that the single currency hasn’t given up too much, so consolidation of the pair EUR/USD this week may be more cautious as the market’s trying to get used to these higher levels.

The bank advises to open small longs at 1.3600 stopping below 1.3540 and looking forward to euro’s advance to 1.3800/1.3860.



Chart. Weekly EUR/USD

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