EUR/USD: Professional market still looking to sell despite Greek debt extension
Most of the research and trade strategies that I’m reading this morning from banks and professional traders shows that nothing much has changed despite the 4-month debt extension. Traders are still very much in sell-rally mode.
The big levels to watch topside would seem to be around 1.1550, as a break above that will have many re-assessing their medium-term strategies. On a shorter-term scale, I’d expect to see plenty of stops above 1.1460 based on what I’m reading.