FXStreet (Córdoba) - Eric Theoret, Currency Strategist at Scotiabank, says near-term risk for EUR/USD lies to the downside, fundamentally and technically speaking.



Key Quotes



“Near term risk for EUR lies to the downside, with upcoming CPI releases (Germany- Wednesday, euro area- Thursday) adding to existing risks relating to yield spreads and broader market developments.



“Recent consolidation likely to give way to further downside as there is broad agreement among both momentum and trend indicators”.



“We await a near term break of 1.3400, with the next key medium-term downside level at 1.3248 — the 38.2% Fibo retracement level of the two-year rally in EUR”.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Heavy Event Risk in Jobs Data, Rate Decision Will Confront Summer Trading

  2. Forex News

    US Dollar as ‘Data Dependent’ as the Fed as NFPs Approach

  3. Forex News

    Strategy Video: Am I Over or Under Trading, And How Do I Correct It?

  4. Forex News

    Nonfarm Payrolls coming up: expectations -TDS

  5. Forex News

    EUR/USD regains 1.10, Payrolls eyed

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!