The EUR crosses remain quite heavy overall, with EUR/JPY definitely turning bearish and EUR/GBP also losing its bullish momentum, and this sentiment is making it hard for the EUR/USD to make any significant bounces. More losses look possible from a technical perspective, but remember that this pair has been entrenched in range-trading mode so the market is lacking confidence and therefore we will see nasty dips and spikes against the short-term trend. Overall, I prefer the sell-rally strategy here but we could be trading 1.24/1.30 for the rest of the year.
No comments:
Post a Comment