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30 Nov 2015
EUR/USD faces further downside pressure – BBH
FXStreet (Edinburgh) - According to the research team at BBH, EUR/USD could see its decline intensified in the medium term.
Key Quotes
“The euro is holding below its own trendline, which is found near $1.0650 now and $1.0550 at the end of next week”.
“The technical indicators are similar to the Dollar Index, with only the MACDs suggesting a correction could be imminent. A short squeeze that lifts the euro through the $1.0660 area could carry it up toward $1.0750-$1.0800”.
“In some ways, the downside speaks for itself. Although we recognized the $1.0525-$1.0550 area as the downside target ahead of the March low near $1.0460, we do not think that area is particularly significant. Parity beckons”.
Key Quotes
“The euro is holding below its own trendline, which is found near $1.0650 now and $1.0550 at the end of next week”.
“The technical indicators are similar to the Dollar Index, with only the MACDs suggesting a correction could be imminent. A short squeeze that lifts the euro through the $1.0660 area could carry it up toward $1.0750-$1.0800”.
“In some ways, the downside speaks for itself. Although we recognized the $1.0525-$1.0550 area as the downside target ahead of the March low near $1.0460, we do not think that area is particularly significant. Parity beckons”.