SasoKlobucaric
Short

EUR/USD forecast 30 March 2015

FX:EURUSD   Euro / U.S. Dollar
Stay aside for a while and sell the highs
Having been waiting since Monday to sell the Euro             in a volatile market I finally made a trade on Friday buying Euros for a few pips. It was clear that the Euro             was being defended the whole week probably by BIS due to hedge funds rebalancing with month-quarter end flows and downgrading Greece by Fitch. On the chart (a channel) we can see a straight move to the downside from highs which indicates a liquidation of Euro-longs. Now I expect EUR/USD             to consolidate at current levels and continue the trend to the downside.
However, BNP Paribas believes the liquidation of USD positions so far has largely been confined to shorter-term market participants and momentum traders, while Longer-term oriented macro accounts are unlikely to have capitulated on their high conviction bullish USD views. As such, BNPP advises its clients in its weekly note to 'stick to the plan' and keep reselling EUR/USD             rebounds. Here is BNPP's rationale behind this call along with the details of its recent short EUR/USD             position. Eurozone investors are likely to remain sellers of the EUR on rallies. In line with this view, BNPP maintains a short EUR/USD             from early this week from 1.0990 with a target 1.04 and a stop at 1.1165.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out