EUR/USD/Flows and Orders/FXWW News

Sovereign buyers drive EUR/USD through 1.3800; 1.42 here we come

The barrier has been breached and stops above 1.3810 have been triggered after fresh demand was noted from Asian central banks.

Demand has been incessant in recent days and with USD sentiment still at low levels and no technical resistance until 1.42 (see chart), I wouldn’t even contemplate picking a top just yet.

 

  1. Quite possible Guitar. I don’t trust the Fibos in non-trending mkts but if it does hold then could be good for bit more than 200? Mkt is desperately looking for any kind of trend

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