EUR/USD: Trading near session highs as Europe opens

The ZEW survey may add to volatility a bit during European trade but I must confess that I have no strong view at the moment. I’m still favouring a very slow and gradual rise in EUR/USD over the next few months with most of the focus remaining on the crosses. On the day, I will sell EUR/USD near 1.3425/35 and re-load on dips to 1.3300. EUR/GBP remains in a solid bull trend, EUR/CHF is consolidating 1.2385/1.2455 and EUR/JPY is also consolidating just below 120.00. In other words, the main crosses remain bullish.

Most reports from the interbank market have EUR/USD buyers outweighing sellers but it will remain a slow grind higher imho.

  1. totally agree with you sean.Im waiting for this yen strength to fade.especially on eur/jpy.hopefully i can still enter eur/usd in the low 300’s or preferabbly 3250/60ish by then.
    targetting 1.3495/500.

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