3 Sep 2013
Flash: EUR/USD pointed lower, sell rallies – TD Securities
FXstreet.com (Lisbon) - The TD Securities Team analyzes the short-term outlook of the EUR/USD and the strategy on how to trade the single currency.
Key quotes
“The EUR/USD continues grinding lower, following an earlier break below some key support – for EUR/USD we continue to prefer to sell rallies, although they may remain scarce in the near-term.
“The next support below is spotted at 1.3135/45 where the 100-, and 200-day moving averages currently sit.”
Moving to the EUR/GBP, “the break below support at the 200-day moving average at 0.8483 has added to the broad weight on the EUR.”
Key quotes
“The EUR/USD continues grinding lower, following an earlier break below some key support – for EUR/USD we continue to prefer to sell rallies, although they may remain scarce in the near-term.
“The next support below is spotted at 1.3135/45 where the 100-, and 200-day moving averages currently sit.”
Moving to the EUR/GBP, “the break below support at the 200-day moving average at 0.8483 has added to the broad weight on the EUR.”