FXstreet.com (Barcelona) - According to Technical Strategist William Moore at RBS, “EUR/USD short positions worked well yesterday and we think this sell off will continue, while the bias in the short-term at least is for this market to stay heavy. Furthermore we think fading any return rallies makes more sense intraday rather than outright shorts.”
“We recommend stop losses that can be positioned through the trend line of resistance and moves back towards 1.3020, looking at the best level to fade downside targets at the recent low around 1.2894 and 1.2840. Lastly we see grounds for a test at support at 1.2951, towards 1.2894 and 1.2829.” he adds.
“We recommend stop losses that can be positioned through the trend line of resistance and moves back towards 1.3020, looking at the best level to fade downside targets at the recent low around 1.2894 and 1.2840. Lastly we see grounds for a test at support at 1.2951, towards 1.2894 and 1.2829.” he adds.
