Currency investors should consider buying EUR/USD this week, advises Fxlivedaytrading.com in its weekly FX pick to clients. The trade is macro-technical driven. The trade was described in depth in Fxlive trading room today, as well as posted in the members section.

"Our technical analysts are long EURUSD on a tactical horizon, looking for fresh buying around 1.0980, current target area is 1.1120"
We feel the spx500 has made a retracement that may be ending soon, and would stay cautious in holding longs in currencies like NZD or AUD where risk off may increase downside pressure.
On the technical front, FXLIVE notes that EURUSD has seen a decline, turning the attention onto weekly support area at 1.0845 - 1.0890.

We would expect this move to accelerate if China troubles continue.