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

EUR/USD: Technical resistance at 1.3710

  • Barrier at 1.3700 was breached on Friday;
  • Technical resistance at 1.3710 (see chart) is next to watch and a break above will change short-term momentum;
  • The medium to long-term outlook is for further range trading inside of a 20/25 big figure range;
  • I remain bearish on the EUR crosses in the short-medium term, especially EUR/GBP;
  • The bearish USD sentiment is likely to outweigh in the short term but watch for more focus on the EZ banking system as the year draws to a close.

Looks like 1.3655/1.3705 are the short-term levels to watch and a break either side will give this pair its next short-term bias.

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