[B]My picks:[/B] Remain Short EURUSD
[B]Expertise: [/B]Global Macro, Classic Technical Analysis
[B]Average Time Frame of Trades:[/B] 1 week - 6 months
To update the pick from yesterday, the Euro Index (an average of the currency’s value against six top counterparts) has broken below support at a rising trend line that has guided prices higher since October of last year, bolstering the case for continued weakness in EURUSD. Remain short, targeting below 1.30.
Separately, I have also initiated a GBPUSD short position.
For detailed analysis of all the major currency pairs, please see my weekly technical outlook report.