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5 Jun 2014
EUR/USD rises further, reaches 2-week highs
FXStreet (Córdoba) - The EUR/USD reached a fresh daily high on Thursday at 1.3669, hitting the strongest level since May 22, extending the rally from 1.3502. Currently trades at 1.3653, up 0.40% for the day.
EUR/USD strong reversal
From the lows the pair has rinse now more than 150 pips, reversing sharply. Price went from 4-month lows to 2-week highs in a few hours. The week is far from over: on Friday the US employment report will be released.
According to Strategists at RBS, the sharp reversal in EUR crosses after the ECB decision suggests that “the pain trade in EUR/USD is toward a higher EUR – weakness in US payrolls may add to the pain – a higher EUR on the crosses could be an attractive short-term position for those looking for an NFP underperformance, and with it USD weakness”.
EUR/USD strong reversal
From the lows the pair has rinse now more than 150 pips, reversing sharply. Price went from 4-month lows to 2-week highs in a few hours. The week is far from over: on Friday the US employment report will be released.
According to Strategists at RBS, the sharp reversal in EUR crosses after the ECB decision suggests that “the pain trade in EUR/USD is toward a higher EUR – weakness in US payrolls may add to the pain – a higher EUR on the crosses could be an attractive short-term position for those looking for an NFP underperformance, and with it USD weakness”.