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EUR/USD makes new session lows but momentum still lacking

By   || February 8, 2010 at 02:25 GMT
|| 4 comments || Add comment

EUR/USD is being driven by cross flows with EUR/JPY selling the main driver. EUR/USD traded to a new session low at 1.3621 but momentum and interest is very low. At the risk of repeating myself, support is at the 1.3585 low from Friday and resistance is now at this mornings 1.3715 high.

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4 Responses to “EUR/USD makes new session lows but momentum still lacking”

  1. hsbc on February 8th, 2010 02:36 GMT

    usd irs rates are actually not falling at all. so where is the risk aversion?

  2. dcoios on February 8th, 2010 02:38 GMT

    For what is worth the federal government will be shut down Monday due to the weather http://www.reuters.com/article/idUSN0716080420100208

  3. Tajul Akbar Bin Ismail on February 8th, 2010 03:05 GMT

    IMHO, EURUSD most likely go further south this week … what do you think, Sean?

  4. Sean Lee on February 8th, 2010 03:36 GMT

    I’ve been wrong on this move so far Tajul. I don’t like either the EUR or the USD so its hard to trade this pair. Plus I’ve got small stale longs at a poor level

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