EUR/USD: A Sell On Macro, Technical, RV, & Options Fronts - TD

EUR/USD: A Sell On Macro, Technical, RV, & Options Fronts - TD

From efxnews.com

EUR/USD has seen some heavy trading in the aftermath of last week's Fed tapering announcement, and from a number of perspectives signals are flashing lower, says TD Bank. "Fundamentally, we have been bearish on EUR/USD for quite some time now, and the earlier start to Fed tapering only adds to that view. In the coming year, an ECB with flat or lower policy rates and that still threatens to add extraordinary stimulus should more clearly contrast a Federal Reserve that is reducing accommodative policies," TD argues.  On the charts, TD notes that the technical picture has also turned more bearish as they ... (full story)

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Comment #1
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Dec 23, 2013 1:55am Dec 23, 2013 1:55am

ocd
| Joined Jan 2012 | Status: Member | 75 Comments

Completely agree. Weekly chart shows a double top hitting a diagonal resistance.

Target? 1.340554ish

Everything easy was hard at first

Comment #2
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Dec 23, 2013 2:53am Dec 23, 2013 2:53am

Guest
| IP XX.XX.14.165

I completely agree as well. I wouldn't be entirely surprised about even going as low as ~1.325 but more conservatively I'd put a target at 1.340 as well. The reason I'd be willing to say 1.325 is because of the price behavior weeks ago when Bernanke first seriously alluded to a taper. Over two weeks, the pair had a big bearish move from 1.382 to 1.330. Now that the big news is out, its entirely possible that the price may break the support at 1.330.

The ECB doesn't show any signs of letting up on its easy money while the FED is at least showing some signs of slowing down. Of course, Yellen may change this but that is too far in the future to make any meaningful predictions.

Comment #3
Quote
Dec 23, 2013 3:45am Dec 23, 2013 3:45am

samooh
| Joined Oct 2012 | Status: Member | 50 Comments

Euro buying opportunity now target1,3950

Comment #4
Quote
Dec 23, 2013 9:56am Dec 23, 2013 9:56am

jonathanhk
| Joined Apr 2013 | Status: Member | 413 Comments

Wonder how long efxnews will last, do you folks actually trade REAL money? going round publishing all these articles and claiming you have insights?

Comment #5
Quote
Dec 23, 2013 10:15am Dec 23, 2013 10:15am

Guest
| IP XX.XX.155.66

Quoting samooh

Disliked

Euro buying opportunity now target1,3950

Ignored

Also looking to target 1.4035

Story Stats

Posted: Dec 22, 2013 11:50pm
Submitted by:
eFx Newz

Category: Fundamental Analysis

Comments: 5 / Views: 2,320