6 Jan 2015
EUR might see a short term upside climb – Kshitij Consultancy
FXStreet (Barcelona) - The Kshitij Consultancy Team expects the EUR/USD pair to move towards the upside in the short term as long as the pair trades above 1.18 levels, with the risk reward now favouring buying the common currency.
Key Quotes
“Euro surprised by continuing lower through the day. Though the news flows are negative and the seasonal indications are also negative for Euro, we have to consider the how much could it continue lower.”
“Purely from a technical standpoint we have moved from the high of the range near 1.40s to the low at 1.18-1.20.”
“The risk reward, despite the macro as it is now, favors buying Euro and not selling it. The stop and reverse area is about 1 to 2 cent lower from here, but the upsides are around 4 to 5 at least. So we maintain a short term trading positive bias on Euro, as long as it holds above 1.18 levels.”
Key Quotes
“Euro surprised by continuing lower through the day. Though the news flows are negative and the seasonal indications are also negative for Euro, we have to consider the how much could it continue lower.”
“Purely from a technical standpoint we have moved from the high of the range near 1.40s to the low at 1.18-1.20.”
“The risk reward, despite the macro as it is now, favors buying Euro and not selling it. The stop and reverse area is about 1 to 2 cent lower from here, but the upsides are around 4 to 5 at least. So we maintain a short term trading positive bias on Euro, as long as it holds above 1.18 levels.”