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8 Sep 2014
EUR/USD: Selling pullbacks into 1.30 - 2ndSkies
FXStreet (Bali) - Chris Capre, Founder at 2ndSkies Forex, is looking to sell the EUR/USD on any weak pullbacks into 1.3000, adding that outlook remains bearish in the short term while below 1.3120.
Key Quotes
"After the big sell-off post ECB meeting, the EURO got sold into oblivion, dropping ~200 pips in a few hours."
"Now since then, and post NFP, the Euro has been largely contained towards the lows, even though it had a chance to rally..."
"Hence I'll look to sell on any weak pullbacks into 1.3000, or an impulsive rally heading into 1.3100."
"I'll remain bearish until a daily close above 1.3120, targeting 1.2730 and possibly a move much lower towards the 'big figure' at 1.2500."
Key Quotes
"After the big sell-off post ECB meeting, the EURO got sold into oblivion, dropping ~200 pips in a few hours."
"Now since then, and post NFP, the Euro has been largely contained towards the lows, even though it had a chance to rally..."
"Hence I'll look to sell on any weak pullbacks into 1.3000, or an impulsive rally heading into 1.3100."
"I'll remain bearish until a daily close above 1.3120, targeting 1.2730 and possibly a move much lower towards the 'big figure' at 1.2500."