Volumes were light yesterday as the summer lull grips markets, but the euro drifted lower on short term profit taking.
We are in the middle of the holiday season, which could mean we are in for a period of consolidation as enthusiasm wanes, but the recent selloff has done little to challenge the view and, as noted before, we should expect pullbacks in the region of 200 points or so as part of the process to a higher EURUSD.
Admittedly there are some concerns around positioning, as highlighted by the recent IMM data, especially in the current illiquid markets, but we are still firmly bullish and advocate running a core long, while leaving room to add on pullbacks initially to 1.1700 and more so at 1.1650.
We have Daily FX Report from both technical and fundamental perspective.
However, being traders, we must concentrate on the market firstly.
The publishment in the site maybe a bit delayed.
If you are interested, please visit our site for "Analysis Reports" service.
We are in the middle of the holiday season, which could mean we are in for a period of consolidation as enthusiasm wanes, but the recent selloff has done little to challenge the view and, as noted before, we should expect pullbacks in the region of 200 points or so as part of the process to a higher EURUSD.
Admittedly there are some concerns around positioning, as highlighted by the recent IMM data, especially in the current illiquid markets, but we are still firmly bullish and advocate running a core long, while leaving room to add on pullbacks initially to 1.1700 and more so at 1.1650.
We have Daily FX Report from both technical and fundamental perspective.
However, being traders, we must concentrate on the market firstly.
The publishment in the site maybe a bit delayed.
If you are interested, please visit our site for "Analysis Reports" service.
The Best EA for Free Trade Copy
