Forex: EUR/USD hovering over 1.3080
Forex pairs in this Article »
EUR/USD
FXstreet.com (Barcelona) - The single currency continues to navigate in the upper end of today's range so far, despite the uncertainties still emerging from J.Boehner speech, with the so-called 'fiscal cliff' in the center of attention, and with a bit more than 18 days to the deadline.
Focusing on another angle, Quantitative Strategist David Rodriguez at DailyFX argues "Retail forex trading crowds remain aggressively long the US dollar against the euro, and a contrarian view of crown sentiment favours further EURUSD gains. Traders are now their most net-short since the euro traded to December highs of 1.3120 and first turned short when the pair crossed above 1.27 through mid November".
The cross is now advancing 0.07% at 1.3083 facing the next resistance at 1.3100 (high Dec.13) followed by 1.3127 (high Dec.5) and then 1.3129 (high Oct.18).
On the downside, a dip below 1.3085 (intraday support) would allow 1.3040 (low Dec.13) and then 1.3018 (MA10d).
Focusing on another angle, Quantitative Strategist David Rodriguez at DailyFX argues "Retail forex trading crowds remain aggressively long the US dollar against the euro, and a contrarian view of crown sentiment favours further EURUSD gains. Traders are now their most net-short since the euro traded to December highs of 1.3120 and first turned short when the pair crossed above 1.27 through mid November".
The cross is now advancing 0.07% at 1.3083 facing the next resistance at 1.3100 (high Dec.13) followed by 1.3127 (high Dec.5) and then 1.3129 (high Oct.18).
On the downside, a dip below 1.3085 (intraday support) would allow 1.3040 (low Dec.13) and then 1.3018 (MA10d).
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