EUR/USD rebound short-lived – Danske Bank

By FXstreet.com | Updated August 28, 2014 AAA

FXStreet (Edinburgh) - According to Pernille Nielsen, Senior Analyst at Danske Bank, the bounce in the pair would be limited.



Key Quotes



“In the majors, focus on the chances of further ECB easing ahead of the central bank meeting on 4 September”.



“We see the balance of risks skewed towards a bounce in EUR/USD around the meeting, as Draghi is unlikely to ease further and the market is heavy short EUR”.



“However, we believe that any bounce will be short-lived, as the market will be focusing on that the ECB will have to deliver more”.



“We have lowered our EUR/USD forecasts, expecting it to reach 1.30 in 1M, 1.27 in 3M and 1.26 in 6M”.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Weekly Trading Forecast: Expect Heavy Seas Between NFPs, ECB and RBA

  2. Forex News

    Trading Video: Expect Volatility for the Dollar, Equities, Euro...Everything

  3. Forex News

    FX CFTC report - TDS

  4. Forex News

    CFTC Commitment of Traders Report - TDS

  5. Forex News

    2,800 pips later, EUR/USD trades below 1.1200; bias continues bearish

Trading Center