EUR weakness remains intact – Danske Bank

By FXstreet.com | August 07, 2014 AAA

FXStreet (Edinburgh) - Analysts at the Nordic Danske Bank expect the pair’s trend to keep the south path, heading to 1.33 in a 3-m horizon.



Key Quotes



“We expect the ECB meeting to have a limited impact on the EUR as market expectations of any significant announcement are running low”.



“We believe that lower interest rates will weaken the EUR as euro area bank buying of peripheral government bonds ‘crowds out’ foreign buying”.



“Stretched short EUR positioning and technicals imply that the down trend in EUR/USD will be slow”.



“We forecast EUR/USD at 1.33 in three months and 1.30 in six months. Leverage funds should stay short EUR/USD for a target of 1.30, stop-loss 1.37”.



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