Coming back to the screens after a week away, you get to take a look at the markets with a fresh set of eyes. First thing I do is turn to the dailies and see where we’ve been. Mostly its been 1.3250/1.34. Pretty boring right?
Boring but productive. EUR/USD is building a firmer base on which to rally, the techs suggest to me. Moderately overbought daily oscillators have been corrected in the last week.
EUR/USD is getting a lift to fresh highs on the day as EUR/GBP rises to its highest in eleven months on the prospects for the UK opting out of the EU at some stage. Talk about currency wars, this stuff is getting real….
Buying EUR/USD dips looks the way to go in the days ahead. Obviously toward 1.3250 would be preferred, if the opportunity presents itself. A small long on a sustained break of 13400 looks like a way to go, as well.
