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EUR/USD: door open for a test of 1.13? – TDS

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Strategist at TD Securities Ned Rumpeltin argued that the pair could attempt a visit of the 1.1300 area.

    Key Quotes

    “For EURUSD, the push above 1.1060, if sustained, suggests further upward correction may be due. This introduces considerable upside risks to our end-Q1 forecast of 1.03, as spot may probe above the 1.13 mark before the broader trend lower resumes”.

    “The ECB is likely to turn more active in its attempts to guide EURUSD lower, but with the latest push higher the result of USD weakness rather than EUR strength, we think their capacity to reverse spots course will be constrained—particularly as the market may pay closer attention to the contingent nature of Draghi’s easing hints than before”.
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