Euro Versus Dollar and Pound August 14th

FX Strategy Video > Currency Pairs Analysis

EUR/USD pair rose during the session on Monday, but gave back much of the gains at the end of the day as the 1.2350 level continues to act as support and resistance every time we get near it. The pair is also forming a rising wedge, and as such we are very bearish of it and looking to sell rallies at this point.

The EUR/GBP pair bounced higher enough to retest a former uptrend line on Monday, and failed. This is indeed a good sign for shorting this pair again. We are only sellers of this market as the trend is so strong, and the Pound as well.

Published on 13th of August 2012
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