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EUR/GBP approaching a top - TDS

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 21, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Guatemala) - Analysts at TD Securities explained that with Draghi signalling a return to an overtly dovish stance at January’s ECB meeting, we similarly shift to looking for downside risks to EUR and rate cut in March.

    Key Quotes:

    "With FX markets still nursing wounds from December’s unexpected reversal, though, investors may be slow to embrace this as an unconditional promise just yet.

    This is likely to re-sensitize EUR to risk appetite going forward. Oil prices are likely to become a more important driver for EUR, particularly against USD.

    These developments should temper the EUR’s outperformance on key crosses. We think EUR/GBP may be approaching a top for this cycle.

    EUR/USD is likely to see heightened two-way risks. This may prevail until a sustained break of recent trading ranges provides a stronger directional impulse."

    For more information, read our latest forex news.

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