Mood towards the Euro to remain heavy - OCBC

By FXstreet.com | Updated August 31, 2014 AAA

FXStreet (Bali) - Emmanuel Ng, FX Strategist at OCBC Bank, expects the mood towards the Euro to remain heavy.



Key Quotes



"Expect the mood towards the common unit to remain heavy as we head into the ECB on Thursday and with the Ukraine/Russian situation still in a flux. On CFTC front, note that leveraged net EUR shorts increased in the latest week with net positioning beginning to look stretched. Expect a top heavy posture to prevail at around current levels with the next support expected towards 1.3100."



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