EUR/USD: It May Take A While To Break 1.16 As With 1.15; EUR/JPY: Short Here Looks Attractive – SocGen


EUR/USD is getting comfortable above 1.1500. Can it push even higher?

Here is their view, courtesy of eFXdata:

Societe Generale Research discusses EUR/USD and EUR/JPY tactical views in the near-term.

EUR/USD has broken out of its 1.13-1.15 range, a move which came as the USD/CNH rate fell and just before the (positive) end of trade talks was confirmed. The euro’s only independent sources of strength are valuation (against the dollar, not in trade-weighted terms), and positioning. It took a long time to break 1.15; it may take a while to break 1.16 too.

EUR/JPY retraced neatly to 125 (the May and August lows) and going short here with a stop just above 1.25 looks appealing,” SocGen notes.

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Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

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