22 Jan 2015
What’s the sentiment around EUR/USD today? – Commerzbank and OCBC Bank
FXStreet (Edinburgh) - EUR/USD remains in the vicinity of 1.1600 the figure on Thursday, as markets participants eagerly wait for the ECB meeting later on today.
“We stay inherently bearish on the EUR in the interim with 1.1800 expected to cap on any short covering while 1.1500 and 1.1460 remain visible on the downside”, suggested Emmanuel Ng, FX Strategist at OCBC Bank.
Furthermore, Karen Jones, Head of FICC Technical Analysis at Commerzbank, argued the pair “is consolidating, on the daily chart we note the 13 count and this is a red warning flag for the down move and very near term but for now no resistance of note has been overcome and we are holding shorts.
“We stay inherently bearish on the EUR in the interim with 1.1800 expected to cap on any short covering while 1.1500 and 1.1460 remain visible on the downside”, suggested Emmanuel Ng, FX Strategist at OCBC Bank.
Furthermore, Karen Jones, Head of FICC Technical Analysis at Commerzbank, argued the pair “is consolidating, on the daily chart we note the 13 count and this is a red warning flag for the down move and very near term but for now no resistance of note has been overcome and we are holding shorts.