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03/02/2014: Watching this spike on EUR/USD

Last updated: May 3rd, 2017 at 09:59 pm

After the huge miss on US ISM Manufacturing which was 51.3 versus 56.0 expected, we are getting a spike higher on EUR/USD.

I am still looking to sell this move, but the move is sharp and could be painful very near term.

Therefore, I am waiting for it to calm down.

My ideal entry point that I am looking at for a short is in the intraday resistance band $1.3530/$1.3560.

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At Hantec Markets Ltd we provide an execution only service. Any opinions expressed by analyst Richard Perry should not be construed as investment advice or an investment recommendation. This report does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. Forex and CFDs are leveraged products which can result in losses greater than your initial deposit. Therefore you should only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved, seeking independent advice if necessary prior to entering into such transactions.