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EUR/USD forecast: focus on ZEW – Commerzbank and Danske Bank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 13, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - The single currency remains in the area of session highs vs. the dollar on Tuesday, although a break above the 1.14 handle still remains elusive.

    EUR/USD was rejected at 1.14 yesterday but remains in the high end of the 1.11-14 range in which we see it bound for now given the absence of a near-term extension of monetary-policy divergence”, suggested Signe Roed-Frederiksen, Senior Analyst at Danske Bank.

    Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted the pair “has broken higher through the 1.1330 21st September high and in doing so opened the path to the 1.1440/68 region, where the May, June and September highs were made. Above here lies the 55 week ma at 1.1472 and the 2014-2015 downtrend at 1.1468, we would ideally expect this to hold the topside and provoke failure”.
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