Monday, February 2, 2015

EUR/USD spike above 200 hma concerns bears

EUR/USD spike above 200 hma concerns bears

  • Pair's spike through the 200 HMA is a concern for short trades

  • The 10 DMA weighs further, just above the market at 1.1358

  • Looks to hold rally attempts. Stops lowered to above the latter

  • Looks to return to Thurs' 1.1262 low, close to the 50% fibo

  • Short target is 1.1261 =  50% of 1.1098/1.1423. 1.1100       

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