EUR/USD/Trade Ideas

EUR/USD: Sorry no ideas, too hard!

  • The EUR crosses remain quite well bid although some like EUR/AUD and EUR/CAD are showing signs of short-term ‘tiredness’.
  • The market is still slightly short of EUR but positions are at quite low levels.
  • Technical support is strong near 1.2750 and Sovereign buyers are reported on dips.
  • Sovereign sellers are also seen near 1.3000, strengthening the case for further range trading.

I haven’t traded EUR/USD for a while and that’s not likely to change; more clarity elsewhere.

  1. I am starting to fancy eur/aud on the short side, it still can go higher, but I doubt we will see upside beyound 1.36 on this push. Will try to get in the mode of selling intraday rallies. If it develops in something bigger than correction will stay on. For now I am thinking some 400 pip range within 1.36-1.30 boundaries. Cheers.

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