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10 Feb 2014
Flash: The lack of faith in EUR/USD keeps fueling it - FXStreet
FXStreet (Barcelona) - Goncalo Moreira CMT, FXStreet Technical Analyst notes that weak shorts were forced to cover with poor US employment figures coming out on Friday, thwarting any near-term attempt to get EUR/USD below 1.35 on a sustained basis.
Key Quotes
“As every week, we asked our dedicated contributors for their views on the FX market and the polled results reflect an increasing bullish mood in the short-term prognosis the highest number in eight weeks. Bears show the opposite behavior and reached the lower level in eight weeks as well. Both are coincident at 45% of the poll.”
“As far as the one-month view concerns, it's the bearish mood which dominates 80% of the poll participants, and in the larger three-month horizon a less vibrant curve shows bearishness oscillating in the 60-70% range since November. In the most recent survey, only 20% of the participants has a positive euro outlook in this time horizon with all central tendency measures printing around 1.3300.”
Key Quotes
“As every week, we asked our dedicated contributors for their views on the FX market and the polled results reflect an increasing bullish mood in the short-term prognosis the highest number in eight weeks. Bears show the opposite behavior and reached the lower level in eight weeks as well. Both are coincident at 45% of the poll.”
“As far as the one-month view concerns, it's the bearish mood which dominates 80% of the poll participants, and in the larger three-month horizon a less vibrant curve shows bearishness oscillating in the 60-70% range since November. In the most recent survey, only 20% of the participants has a positive euro outlook in this time horizon with all central tendency measures printing around 1.3300.”