Credit Suisse booked profit on its long EUR/USD from 1.3035 by reversing into short at 1.3300, with a stop at 1.3435.
"EUR/USD has again managed to find support at minor trendline support, which keeps the immediate bias still higher," CS says.
"With the 1.3418 June peak not far above, and with momentum now beginning to deteriorate, we look for a cap here, and a turn lower in the range. Below 1.3234 looks to 1.3166, and through here would see a near-term top, and a more extended turn lower to 1.3093/82," CS adds as a rationale behind this call.
Read More :http://www.efxnews.com/story/19990/credit-suisse-reversed-long-eurusd-short-13300
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