EUR crosses/EUR/USD/Flows and Orders

EUR/USD session outlook: Should struggle ahead of 1.2900

  • EU council meeting starts shortly but headlines are unlikely for quite some time:
  • The EUR did well on the crosses again yesterday with EUR/GBP leading the way in overnight trade:
  • EUR/JPY should now consolidate above previous resistance at 104.80 although the short-term charts are heavily overbought:
  • EUR/CHF has been trading near the SNB zone which of course raises the possibility of the SNB possibly sitting on the offer in EUR/USD once again?
  • There is talk of a barrier at 1.2900 in EUR/USD and corporate sell orders at 1.2905/10, which should be difficult to overcome in thin holiday trade.

Overall prefer to sell any intraday rallies towards 1.2900 with fairly tight stops but unless you are very keen, it’s probably best to take a few days off!

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