3 Dec 2013
EUR/USD likely see stronger selling interest after 1.3550/60 loss
FXstreet.com (Bali) - The EUR/USD saw a convincing bearish move on Monday, likely to spur further selling interest as the close below 1.3550 confirms low conviction by Euro bulls to explore levels past 1.36.
EUR/USD technicals deteriorate
From a daily perspective, the EUR/USD is trading in a neutral tone in the mid-point of its kumo cloud, with further slides likely to find demand ahead of the Tenkan sen at 1.3510 and round number 1.35 (kumo cloud bottom H4 chart).
Expect the EUR/USD market to have shifted from a consistent 'buy-dips' profile to now see any retest of 1.3550/60 resistance as an opportunity to sell on strength short term.
ECB, NFP eyed
While the technical indicators are not as constructive as last week, traders should not expect major moves either side with flows likely to be compressed in relatively tight ranges (daily ATR) ahead of the ECB Thursday and NFP Friday.
Pro Fed taper bets on the rise
The sentiment towards a Fed taper in coming months has slightly improved early this week, after surprisingly strong manufacturing data in the US on Monday.
EUR/USD technicals deteriorate
From a daily perspective, the EUR/USD is trading in a neutral tone in the mid-point of its kumo cloud, with further slides likely to find demand ahead of the Tenkan sen at 1.3510 and round number 1.35 (kumo cloud bottom H4 chart).
Expect the EUR/USD market to have shifted from a consistent 'buy-dips' profile to now see any retest of 1.3550/60 resistance as an opportunity to sell on strength short term.
ECB, NFP eyed
While the technical indicators are not as constructive as last week, traders should not expect major moves either side with flows likely to be compressed in relatively tight ranges (daily ATR) ahead of the ECB Thursday and NFP Friday.
Pro Fed taper bets on the rise
The sentiment towards a Fed taper in coming months has slightly improved early this week, after surprisingly strong manufacturing data in the US on Monday.