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EUR Trading Outlook (08-05-2015)

EUR/USD
• Short covering persists in Europe & new s-t trend high hit, specs cap rally
• Slide ensues, upbeat US claims give USD broad lift, EUR/USD dives
• Unrelenting EUR sales aided by DE yield dive sees 100-DMA pierced
• 1.1237 low hit, bounce sees ground >100-DMA, ~1.1280 late in day
• Techs a bit bears on daily RSI divergence & doji
• NFP is key, above f/c (224k) result likely sees EUR/USD heavy
• 1.0050/70 test likely as US rates to rise on upped Fed lift-off chances

USD/JPY
• USD/JPY recovered w the USD, bonds & stocks as oil fell back fm key TL
• Staunch bids above 119 – closes below 119 since March quickly bought up
• Low Jobless Claims, tech reversals across assets & rumors of CB buying
• Strong NFPs & Japanese stocks needed to end USD/JPY stalemate
• EUR/JPY hit by EUR reversal from O/B daily studies & Bunds turn

Back to EUR Trading Outlook Archive

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