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Forex: EUR/USD in lows below 1.3400

The shared currency accelerates its descent below the key mark at 1.3400 on Wednesday, after both French and German GDP figures during the fourth quarter have disappointed expectations, contracting...
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Forex Flash: EUR/USD hits suggested rebound, targets 1.3270/55 - Commerzbank

According to Commerzbank analysts, the intraday Elliott wave count suggested that the rebound should terminate circa 1.3518 (50% retracement of the recent sell off). Such movement has already been seen, which now means the EUR/USD should get back down and target 1.3270/55 (16th Jan low and the 61.8% retracement and 3 month support line), "This is likely to hold the initial test – a break will target the more important 1.3164 7 month uptrend and a close below here is required to negate the up move completely", wrote analyst Karen Jones, pointing only to recovery above 1.3570 to neutralize the immediate outlook and potentially re-target the 1.3711 February high.
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