EUR Trading Outlook (16-02-2015)

EUR/USD opened NYC 1.1417, 13 pips up on last night’s close. Initial action saw a probe of the 200-HMA that fell short, 1,1380 offered was the low (200-HMA 1.1372 at the time) A strong Canadian Mfg sales print knocked USD/CAD lower Canadian Dollar Briefing pressured the DXY lower and created a general dour dollar sentiment. EUR/USD ground higher, was paid at 1.1432 ahead of the London fix. Oil prices had surged 4.3% at that point, also putting pressure on the DXY. However discretion being the better part of valor on a Friday afternoon, ahead of a long holiday weekend in the US, oil traders booked profits, Brent closed +3.7%, WTI +2.9%. Algos unwound EUR/USD longs, spot slipped back to 1.1385 given, closed 1.1392.