13 Jan 2014
Flash:
FXstreet.com (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank notes that EUR/USD is in line with current CTFC positioning heading into the week.
Key Quotes
"The EUR/USD pushed higher on Friday in the wake of the disappointing US nonfarm numbers and despite the dovish overtones from the ECB on Thursday."
"Meanwhile, any further positive news flow from the periphery this week may however discourage excessive downside probes."
"In the near term, the 1.3700 resistance may hold while key psychological support at the 55-day MA (1.3614) remains in play."
"Our current view on the pair is also in line with the latest CFTC positioning numbers, with marginal net EUR longs being pared in the latest week."
Key Quotes
"The EUR/USD pushed higher on Friday in the wake of the disappointing US nonfarm numbers and despite the dovish overtones from the ECB on Thursday."
"Meanwhile, any further positive news flow from the periphery this week may however discourage excessive downside probes."
"In the near term, the 1.3700 resistance may hold while key psychological support at the 55-day MA (1.3614) remains in play."
"Our current view on the pair is also in line with the latest CFTC positioning numbers, with marginal net EUR longs being pared in the latest week."