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EUR/USD: More gains ahead, targeting 1.3350 option barrier

Despite reports of really heavy selling at every level, we have still managed to close above 1.3300 and further gains look likely. EUR/CHF and EUR/GBP have both steadied after a few down sessions and a large barrier at 1.3350 will act like a magnet for EUR/USD.

Short-term I prefer to buy intraday dips towards 1.3260 looking for 1.3350 test. Medium-term, selling any rally to 1.3400 with reasonably tight stops looks to be the better risk-reward play.

  1. Hi sean. I thought the major trendline on the daily might provide stiff resistance. Given the eurjpy have formed lower high in the daily too. I went in short at 1.331.. placing a stop at 1.336. Any comments sean?

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