Targeting 1.30 handle for year end - Scotiabank

By FXstreet.com | Updated August 22, 2014 AAA

FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank noted the events around the EUR, apart from Draghi speaking, were limited today but ahead of a busier schedule next week.



Key Quotes:



“There was no data released today with next week’s German IFO, Eurozone confidence and CPI the highlights leading into the September 4th ECB meeting."



"EUR/USD short‐term technicals: bearish—all signals, both short and medium‐term, warn of further downside risk; the RSI is at 30 suggesting there is plenty of room before reaching oversold levels and sentiment is negative. Accordingly, the biggest risk with EUR is a short period of retracement before making a new low; however for now we are biased to position with the downward trend and hold a year‐end target of 1.30."



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Forex Sentiment & Volume Analysis - EURUSD

  2. Forex News

    Forecast: Dollar Faces NFPs, Euro Anticipating Greece and Risk Languishes

  3. Forex News

    Fed Fear Builds USD, Greece Unnerves the Euro but S&P Yet to Collapse

  4. Forex News

    A glance at the strong dollar and implications - BBH

  5. Forex News

    EUR/USD: Extraordinary price action - Rabobank

Trading Center