EUR Trading Outlook
TECHNICALS: Short-term support near .9140 held the first test overnight and a clean break
below there could open the way for a test of .9040 (see chart). The really big levels to watch
are at .9000/.9350 and as we are opening right in the middle of this range it’s difficult to have
a very strong short-term bias. Longer-term I’m still in the buy-dip camp for a move back
TECHNICALS: The main technical feature for me is still the heavily oversold nature of the daily charts and I expect this to start unwinding sooner rather than later (see chart). In the meantime, the short-term parameters are very clear at .9000/.9350 so play the edges of this range.
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