Monday, June 2, 2014

EUR/USD and GBP/USD

The decline in both EUR/USD and GBP/USD in recent weeks has pushed them into oversold territory, and triggered bullish trading signals on BNP Paribas's STEER model. The bank sees fair value for EUR/USD at 1.3740 and recommends a long position at market, with a stop down at 1.3520. GBP/USD's fair-value is 1.6954, longs from 1.6750 are favored with a stop down at 1.6578. GBP/USD now trades at 1.6748, EUR/USD 1.3610.