3 Jul 2013
EUR/USD, look for pullbacks at 1.3060 targeting 1.2850/1.2775 - 2ndSkies
FXstreet.com (Barcelona) - As the Euro selling interest does not recede, the EUR/USD had another losing day on July 2, ending the session at 1.2980 from 1.3063, and in the process printing a sizeable bearish engulfing bar on the daily chart.
Look for EUR/USD shorts on pullbacks
In view of Chris Capre, Founder at 2ndSkies, "The trend is still bearish, but liquidity is pulling out of the market, so moves may be more measured ahead of the July 4th US holiday." Capre is considering "shorts on pullbacks towards 1.3060 targeting 1.2850 and 1.2775 which is the major support level for the year." Capre advises "to trim positions ahead of the holiday if you are in profit."
Look for EUR/USD shorts on pullbacks
In view of Chris Capre, Founder at 2ndSkies, "The trend is still bearish, but liquidity is pulling out of the market, so moves may be more measured ahead of the July 4th US holiday." Capre is considering "shorts on pullbacks towards 1.3060 targeting 1.2850 and 1.2775 which is the major support level for the year." Capre advises "to trim positions ahead of the holiday if you are in profit."