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

EUR/USD: Dominated by Sovereign flows; MAs provide technical support

  • ACBs reported selling rallies as reserve re-balancing continues post USD/AXJ intervention;
  • Sovereign wealth funds noted buyers on dips;
  • 100 and 200-day MAs providing technical support levels 1.3135/45;
  • EUR remains soft on crosses especially against AUD and GBP;
  • EUR/GBP large barrier at .8400 could prove magnetic.
  1. Hi Sean,

    I have not looked on loonie for almost half a year. Today while flipping through monthly charts it literally shocked me. It looks like it is getting ready to roll over in a major way (again it is a monthlies, so caution is warranted) but I think I will start building short CAD/USD position…. If it clears 1.06 region it could start moving.

    Another peculiar formation is CHF/JPY, it is not far from 20 years high, but most probably is not yet ready for countertrade.

    Cheers
    Kirill

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