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4 Nov 2013
EUR/USD bias remains short, break of 1.34 allows 1.33, 1.3120 - 2ndSkies
FXstreet.com (Barcelona) - EUR/USD is currently sitting at a very important area of support just below 1.35, one that if broken lower, may expose further downside for the pair in the week ahead.
EUR/USD: Downside favoured
According to Chris Capre, Founder at 2ndSkies Forex: "Momentum short term is bearish, so i'd want to see some intraday correction at this zone before buying. Short term bears can now look for pullbacks towards 1.3645/1.37 to get short, while bulls can watch the intraday charts for buyers holding the line before getting long. Our bias is to remain short sticking with the current momentum, especially if it clears 1.3400 with 1.33 and 1.3120 being downside targets."
EUR/USD: Downside favoured
According to Chris Capre, Founder at 2ndSkies Forex: "Momentum short term is bearish, so i'd want to see some intraday correction at this zone before buying. Short term bears can now look for pullbacks towards 1.3645/1.37 to get short, while bulls can watch the intraday charts for buyers holding the line before getting long. Our bias is to remain short sticking with the current momentum, especially if it clears 1.3400 with 1.33 and 1.3120 being downside targets."