You are not logged in.

#1 28-01-2019 08:11:57

Admin & Trader
From: Paris - France
Registered: 21-12-2009
Posts: 2495

EUR/USD: the euro will likely remain stuck in its current range (TDS)

EUR/USD: the euro will likely remain stuck in its current range (TD Securities)

TD Securities points out that the EUR/USD has reached a new marginal low Friday as traders have quickly focused on the dovish elements of the ECB meeting.

"The lack of significant pressure on euro selling following the ECB meeting suggests that these expectations were largely taken into account on the forex. We believe that the EUR/USD should remain confined to recent ranges until new catalysts appear.

The USD is also facing increasingly difficult prospects. Instead of the EUR/USD, we think the euro bears may find greater satisfaction with EUR/JPY short positions if the recent rebound in risky assets falters.

The EUR/USD is continuing its rebound on the forex, currently rising around 1.1390. The breakout of 1.1350 offered a bullish signal in the very short term, and could encourage a resumption of consolidation in the short term, as predicted by TDS.

For those who are wondering: the reports on durable goods orders and US home sales, originally scheduled for Friday's economic calendar, have been postponed to a later date because of the US government shutdown.

"Anything worth having is worth going for - all the way." - J.R. Ewing



Board footer