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13 Feb 2014
Flash: EUR/USD risks tilted to upside - FXStreet
FXStreet (Barcelona) - Goncalo Moreira CMT, FXStreet Technical Analyst notes that the fact that today's EUR/USD bulls remained unobstructed and could clear the 1.3636 handle- tells us about how much was real and how much was flash about yesterday's temporary whiplash from the ECB rumour.
Key Quotes
“The upside momentum is right now abated but the euro finds itself in a void with no sell liquidity being offered here. Traders may to feel a bit lost in the messy battleground late January left us with. The series of rickshaw candles seen on the 27th through 29th January and which parked around 1.3680 bring indecision to the chart. But the lack of selling interest accordingly to our Positions Table suggests the risks are still tilted to the upside.”
“The average forecast price -polled from our dedicated contributors - was 1.3576 for the current week in the euro, which well explains the lack of sellers at higher levels. Today's higher close could shake their expectations and reshape the current Positions Table for the next days.”
“A cluster of orders is seen below 1.35 in the form of stops and take profits. This level is likely to be broken if touched. Such a clean passing through 1.35 would bring the pair to the demand zone at 1.34.”
Key Quotes
“The upside momentum is right now abated but the euro finds itself in a void with no sell liquidity being offered here. Traders may to feel a bit lost in the messy battleground late January left us with. The series of rickshaw candles seen on the 27th through 29th January and which parked around 1.3680 bring indecision to the chart. But the lack of selling interest accordingly to our Positions Table suggests the risks are still tilted to the upside.”
“The average forecast price -polled from our dedicated contributors - was 1.3576 for the current week in the euro, which well explains the lack of sellers at higher levels. Today's higher close could shake their expectations and reshape the current Positions Table for the next days.”
“A cluster of orders is seen below 1.35 in the form of stops and take profits. This level is likely to be broken if touched. Such a clean passing through 1.35 would bring the pair to the demand zone at 1.34.”