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2 Dec 2014
What’s the sentiment around EUR/USD today? – Commerzbank and OCBC Bank
FXStreet (Edinburgh) - EUR/USD is trading on a softer tone on Tuesday, giving away yesterday’s gains and coming down from recent highs beyond 1.2500 the figure.
In the opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair “is capped near term by the 1.2494 3 month downtrend, it has been trading sideways for a few weeks above the 1.2358 level… Below 1.2358 the recent low, our target remains its 200 month moving average at 1.2232”.
In light of the next ECB meeting, FX Strategist at OCBC Bank Emmanuel Ng, noted “although the ECB is not expected to announce further easing measures this Thursday , expectations for such an outcome in 1Q 14 may defuse excessive upside in the EUR-USD in the near term”.
In the opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair “is capped near term by the 1.2494 3 month downtrend, it has been trading sideways for a few weeks above the 1.2358 level… Below 1.2358 the recent low, our target remains its 200 month moving average at 1.2232”.
In light of the next ECB meeting, FX Strategist at OCBC Bank Emmanuel Ng, noted “although the ECB is not expected to announce further easing measures this Thursday , expectations for such an outcome in 1Q 14 may defuse excessive upside in the EUR-USD in the near term”.