EUR/USD outlook for September 15, 2014

EUR/USD spent the whole week in a relatively small range (1.2860-1.2980). This is quite normal after the huge fall of the week before and the last quarter in general. Open shorts target the lowest end of this range first and 1.2750 later (multiple support from May/July 2013). The main trend is massively down, but a re-visit of 1.30/1.31 is likely (“dead cat bounce”). As we have written before, EUR/USD volatility will remain low. Short call & put options have done very well this last week.

EUR/USD spot rate, 5-hour candlechart:
EURUSD(5 Hours)_20140912

Chart courtesy of investing.com. http://investing.com

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