EUR favouring downside - Scotiabank

By | Updated July 25, 2014 AAA

FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank noted that the EUR is soft and favouring downside.

Key Quotes

“Today’s weak German IFO, coming in below expectations and the June data, warns of fading confidence; however it is next week’s flash CPI, expected to be stable at 0.5% on headline and 0.8% on core, which is critical to evaluating the path of ECB policy and EUR. We hold a Q314 target of 1.34 and a year-end target of 1.30; expecting EUR to leak slowly lower from here."

"EUR/USD short‐term technicals: bearish—technical studies are all bearish EUR, warning of a test lower still. 1.3400 is an important technical level and we would expect support to hold only temporarily there."

You May Also Like

Related Forex Analysis
  1. Forex News

    EUR/USD drops to fresh lows near 1.1130

  2. Forex News

    EUR/USD sees downside risks below 1.1120 – FXStreet

  3. Forex News

    EUR/USD deep in red near 1.1150

  4. Forex News

    EUR/USD could be ready to resume the downside – TDS

  5. Forex News

    Broader outlook on EUR/USD remains bearish – Danske Bank

Trading Center