EUR/USD forecast: eyes on FOMC – Commerzbank and Danske Bank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 18, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - The shared currency remains in the mid-1.0600s vs. the greenback, ahead of the key FOMC minutes due later in the European evening.

    EUR/USD continues to grind lower in anticipation of aggressive easing despite early signs that Eurozone economy is bottoming out. The next target is the low multi-year low from March this year at 1.0458”, suggested Analyst Mikael Milhoj at Danske Bank.

    In addition, Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggested the pair “remains under pressure and we look for losses to extend the 1.0520, the April low and the 1.0457 March low, where we would expect to see some profit taking. Last weeks consolidation was tepid at best and while capped by the 1.0808 accelerated downtrend will remain directly offered”.
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