EU/USD, July 29, 1pm UK Time

Ongoing USD weakness lead to a breakout of EU/USD above the 1.3040 level. I tend not to trade EUR/USD today. This has more upside momentum, but I don’t like the risk-reward ratio for longs at this level. Don’t forget that the whole market called parity just a few weeks ago!

EUR/USD, July 29, 1pm UK Time