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6 Jan 2015
EUR/USD sell on upticks – KBC
FXStreet (Barcelona) - The KBC Bank Research Team suggests a sell on upticks strategy for the EUR as it starts the new year with a strong negative bias.
Key Quotes
“We started the new year with a euro negative bias, even as the single currency has already recorded substantial losses of late and is moving in oversold territory.”
“The 1.1877 2010 low was tested yesterday morning, but a sustained break didn’t occur. A sell-on upticks approach remains preferred.”
“Yesterday, we assumed that that the potential for upticks could be limited. Yesterday’s price action suggests that the window of opportunity might be a bit bigger than feared. Still, we expect that a protracted rebound in EUR/USD will be difficult.”
“The 1.2252 correction top looks is our short-term line in the sand. A return above this level would question the short-term EUR/USD downtrend.”
“For USD/JPY we have a neutral stance. Decent US eco data should be a positive over time. Short term however, less positive sentiment on risk and lower core bond yields will probably weigh on the likes of USD/JPY and EUR/JPY.”
Key Quotes
“We started the new year with a euro negative bias, even as the single currency has already recorded substantial losses of late and is moving in oversold territory.”
“The 1.1877 2010 low was tested yesterday morning, but a sustained break didn’t occur. A sell-on upticks approach remains preferred.”
“Yesterday, we assumed that that the potential for upticks could be limited. Yesterday’s price action suggests that the window of opportunity might be a bit bigger than feared. Still, we expect that a protracted rebound in EUR/USD will be difficult.”
“The 1.2252 correction top looks is our short-term line in the sand. A return above this level would question the short-term EUR/USD downtrend.”
“For USD/JPY we have a neutral stance. Decent US eco data should be a positive over time. Short term however, less positive sentiment on risk and lower core bond yields will probably weigh on the likes of USD/JPY and EUR/JPY.”