Growing feeling that EUR short-covering may be done

Author: Sean Lee | Category: News

Firstly there was this Morgan Stanley recommendation on Friday to sell EUR/USD and now Reuters are saying that many of the overly ripe shorts were covered in the mad rush between Wednesday and Friday. I’m hearing something different but it’s a very big market. Hourly support/resistance levels are at 1.3315/1.3405 and a break of either level will set up the next short-term trend.

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