Session outlook: EUR/USD

The market focus at the moment is more on the USD leg of this pair and if other pairs like USD/CHF and USD/JPY can break above important resistance levels then we may see more downside for EUR/USD. Nevertheless there is also cross-action to contend with and if EUR/JPY and EUR/CHF continue with their short-term bullish trends, there will of course then be demand for the EUR/USD.

Range trading would seem to be the order of the day with parameters at 1.3470 and 1.3570. Mild bearish bias on the hourly chart which will increase if 1.3470 breaks.

Featured Videos