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9 Sep 2013
EUR/USD opens week sluggish after decent rebound Friday
FXstreet.com (Barcelona) - The EUR/USD posted what some would deem a bullish reversal Friday after the US jobs report caught many off guard negatively with its data. Will it have short to intermediate-term carry-over?
Light data flow Monday to put focus on Syria and technicals
With only some EuroZone investor confidence data due out on Monday, EUR/USD traders will likely be reacting to US / Syria news and the trading action in the various global markets – including in the other asset classes.
Technical outlook for EUR/USD
Technicians remain macro bearish on the EUR/USD with targets way down at the 1.24 – 1.25 range. However, they point out that EUR/USD was getting short-term oversold and nearing shorter-term support at 1.3069 heading into Friday – so a short-term bounce was to be expected. Resistance comes in at Friday’s high of 1.3222.
Light data flow Monday to put focus on Syria and technicals
With only some EuroZone investor confidence data due out on Monday, EUR/USD traders will likely be reacting to US / Syria news and the trading action in the various global markets – including in the other asset classes.
Technical outlook for EUR/USD
Technicians remain macro bearish on the EUR/USD with targets way down at the 1.24 – 1.25 range. However, they point out that EUR/USD was getting short-term oversold and nearing shorter-term support at 1.3069 heading into Friday – so a short-term bounce was to be expected. Resistance comes in at Friday’s high of 1.3222.