EUR Trading Outlook
The Euro (EUR) the EUR/USD tested deeper below 1.3300 during the European session overnight after reports of Spanish bonds coming under pressure after a massive general strike. Also negative was talk Greece would could default on railway bonds guaranteed by the government.
The Euro (EUR) the EUR/USD tested support under 1.3300 overnight but rebounded and closed above the key level opening the way for more topside. EUR/GBP moved higher and EUR/AUD soared up to fresh month highs with risk sensitive cross unwinding in the Euro’s favor.
The Euro (EUR) the EUR/USD came under pressure after failing at the big resistance 1.3380 in Early European trade. EUR/GBP reversed as well and we saw the downside tested with a Fitch report out negative on Portuguese banks. The outlook is mixed with a lack of conviction the only certainty lately.
The Euro (EUR) The EUR/USD bulls seized the Bernanke comments to rally past 1.3300 and tested 1.3360 before consolidating the gains. The outlook is strong now with the USD strength all based on the US FED changing its course on monetary policy earlier than forecast. 1.3500 is the next major target.
Go to Euro (EUR) Archive



