EUR/USD still a sell on strength - Societe Generale

By FXstreet.com | August 18, 2014 AAA

FXStreet (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale, remains a seller on EUR rallies.



Key Quotes



"There is no new geo-political news over the weekend, and although hopes of a resolution to the Ukraine conflict are faint, we're starting the week with a (timid) risk bounce, and a dollar-negative bias. EUR/USD may test the top of the current mini-range (1.3330-1.3430) but is a sell on rallies; USD/JPY is stuck fast in its 101-103 range but we remain long; GBP/USD needs to break 1.6660 to re-invigorate the downtrend (maybe the CPI data tomorrow will help). Strong employment data have not had much impact on CAD but support a view that selling AUD/USD in a 0.93-0.94 range is a better strategic trade than buying USD/CAD. NOK/SEK continues to test 1.12."



comments powered by Disqus
Related Forex Analysis
  1. EUR/USD sitting just above 1.2950 support
    Forex News

    EUR/USD sitting just above 1.2950 support

  2. Yen Gains, Aussie Dollar Falls on Soft Chinese Economic Data
    Forex News

    Yen Gains, Aussie Dollar Falls on Soft Chinese Economic Data

  3. USD/JPY drifting lower, but still well above 107.00
    Forex News

    USD/JPY drifting lower, but still well above 107.00

  4. Crude Oil Prices Aiming to Extend Lower, SPX 500 May Be Topping
    Forex News

    Crude Oil Prices Aiming to Extend Lower, SPX 500 May Be Topping

  5. USD/JPY Technical Analysis: Prices Set New Six-Year High
    Forex News

    USD/JPY Technical Analysis: Prices Set New Six-Year High

Trading Center