13 Jan 2015
EUR to trend lower throughout 2015 and 2016 – Scotiabank
FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, expects EUR to trend lower throughout 2015 and 2016, with the pair currently trading below the 1.18 handle, with the nearest support located at 1.1754 levels.
Key Quotes
“EUR is weak, down 0.3% since yesterday’s close but not yet able to break its January 1st low of 1.1754. Data releases and news flow have been generally light; with most focused on how the ECB will approach QE and how the European court will rule tomorrow on the OMT. The only data was softer than expected German wholesale price index, which dropped –1.0%m/m.”
“We expect EUR to trend lower throughout 2015 and 2016.”
“EURUSD short-term technicals: bearish—will all studies warning of the risk of further downside. Near-term support lies at the recent low of 1.1754 with 1.1700 as important support beyond there. We are biased to be short EURUSD.”
Key Quotes
“EUR is weak, down 0.3% since yesterday’s close but not yet able to break its January 1st low of 1.1754. Data releases and news flow have been generally light; with most focused on how the ECB will approach QE and how the European court will rule tomorrow on the OMT. The only data was softer than expected German wholesale price index, which dropped –1.0%m/m.”
“We expect EUR to trend lower throughout 2015 and 2016.”
“EURUSD short-term technicals: bearish—will all studies warning of the risk of further downside. Near-term support lies at the recent low of 1.1754 with 1.1700 as important support beyond there. We are biased to be short EURUSD.”