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20 Feb 2014
Flash: Euro buyers have set up shop around 1.3650 - FXStreet
FXStreet (Barcelona) - Goncalo Moreira CMT, FXStreet Technical Analyst notes that EUR/USD sits now under the 1.3750's where the bulk of the trading has been registered in the last two days.
Key Quotes
"Presently speaking, buy and sell calls from FXStreet contributors are quite balanced, as seen in the Trading Positions table."
"Renewed interest to follow the trend emerged at the start of the week when euro bulls profited from the upside risk we warned about last week."
"The pair could tumble above 1.3800 when buyers start to lighten up their longs. We can infer from the below chart that stop loss orders from sellers clustered below the round number could eventually bring some instability."
"For this reversal scenario to materialize, those buyers who have clearly set up shop around 1.3650 would have to see their bids filled. For this reason, the 1.3650 area remains an attractive pole for the sessions to come. On the way down, be aware of some profit taking from sellers at 1.37 and below."
Key Quotes
"Presently speaking, buy and sell calls from FXStreet contributors are quite balanced, as seen in the Trading Positions table."
"Renewed interest to follow the trend emerged at the start of the week when euro bulls profited from the upside risk we warned about last week."
"The pair could tumble above 1.3800 when buyers start to lighten up their longs. We can infer from the below chart that stop loss orders from sellers clustered below the round number could eventually bring some instability."
"For this reversal scenario to materialize, those buyers who have clearly set up shop around 1.3650 would have to see their bids filled. For this reason, the 1.3650 area remains an attractive pole for the sessions to come. On the way down, be aware of some profit taking from sellers at 1.37 and below."