3 Feb 2015
EUR/USD short-term technicals mixed – Scotiabank
FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, notes that EUR/USD short-term technicals as mixed, with the pair still trading within its 8-session range of 1.1098 – 1.1423.
Key Quotes
“EUR is flat, still trading within its 8‐session range of 1.1098 to 1.1423, and highlighting a period of stability, providing time for traders to catch their breath.”
“The focus is on Greece and broad market developments with the market failing to react to weaker than expected PPI prints, down –1.0%m/m and –2.7%y/y.”
“EURUSD short‐term technicals: mixed—EUR has range traded between 1.1098 and 1.1423 for 8‐sessions and several technical studies have now shifted.”
“The MACD has generated a buy signal; while the RSI has shifted away from overbought levels; and downward momentum has eased.”
“We see this as a warning to EUR shorts and see better risk/reward in other currencies.”
Key Quotes
“EUR is flat, still trading within its 8‐session range of 1.1098 to 1.1423, and highlighting a period of stability, providing time for traders to catch their breath.”
“The focus is on Greece and broad market developments with the market failing to react to weaker than expected PPI prints, down –1.0%m/m and –2.7%y/y.”
“EURUSD short‐term technicals: mixed—EUR has range traded between 1.1098 and 1.1423 for 8‐sessions and several technical studies have now shifted.”
“The MACD has generated a buy signal; while the RSI has shifted away from overbought levels; and downward momentum has eased.”
“We see this as a warning to EUR shorts and see better risk/reward in other currencies.”