EUR/USD/FXWW News/GBP crosses/Others/Technical Analysis/Trade Ideas

European currencies range-bound in Asia: USD/CHF squeezing shorts

  • USD/CHF has been a significant mover over the last few days and the short squeeze could pick up momentum above .9400 (see chart).
  • Cable is retracing off its recent highs but I’m still in dip-buying mode. Support on the day at previous highs near 1.5390 but I prefer to wait for levels closer to 1.5280. Recent highs near 1.5550 are the obvious resistance levels.
  • EUR/USD ground slowly higher and is now grinding slowly lower. Sorry, I’ve got no strong views here at all.
  1. EUR is going to fall imho. It failed to rally on good GDP data from France, Germany and Eurozone… I think that today we’re going for stops below 1.32.

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