10 Feb 2014
Flash: Fade EUR/USD upticks near term - OCBC
FXStreet (Barcelona) - According to Emmanuel Ng, FX Strategist at OCBC Bank, the favourable strategy in EUR/USD is to fade near term upticks.
Key Quotes
"Multi-session, the balance of EZ vs. US data flow may determine the time path of the EUR-USD, while Yellen’s testimonies this week may also impart a dollar-centric spin to the pair."
"We expect the EUR-USD to meet resistance at the 55-day MA (1.3647) and then at 1.3665 and any failure to breach higher may tempt a slide back towards 1.3600 before 1.3550. In the interim, we would prefer to fade near term upticks."
Key Quotes
"Multi-session, the balance of EZ vs. US data flow may determine the time path of the EUR-USD, while Yellen’s testimonies this week may also impart a dollar-centric spin to the pair."
"We expect the EUR-USD to meet resistance at the 55-day MA (1.3647) and then at 1.3665 and any failure to breach higher may tempt a slide back towards 1.3600 before 1.3550. In the interim, we would prefer to fade near term upticks."