BoA: EUR/USD will make a top
Analysts at Bank of America Merrill Lynch have noticed that since 2008 EUR/USD was reversing down near the long-term resistance after completing a 3-legged advance from the previous cyclical low. This time such low is at $1.2041 (July 2012 low).
So, the specialists are looking for a top and turn down. Targets lie at $1.2745 (March 2013 low) and $1.2173.
Chart. Weekly EUR/USD