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Why I'm long EURUSD on ‘positive momentum’
Richard Perry from Central Markets is looking to long EUR USD; he likes the way it is finding support above the $1.3200 level, which has been a key pivot. He also says all momentum indicators are looking positive.
The euro has been trading high against the dollar after a report, released earlier this week, showed that Germany's factory orders rebounded in June.
Meanwhile, the Dollar fell after Federal Reserve officials added to confusion about when the central bank could begin to slow its asset purchases. It said it is "quite likely" to begin stepping back its programme this year.
Richard plans to buy into any near term weakness towards $1.3300, to place a stop at $1.3265 and his target is $1.3418.
00:54 minutes
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