27 Jan 2015
Disappointing US data may cause EUR/USD to climb back above 1.13 – TDS
FXStreet (Barcelona) - Shaun Osborne, Chief FX Strategist at TD Securities, sees EUR/USD to make another run above 1.13 levels if US data disappoints, further expecting EUR to squeeze higher in the short-term.
Key Quotes
“EURUSD remains in a range above 1.12 and while we remain conviction EUR bears from a longer-term point of view, we also think there is a chance that the EUR might steady or even squeeze a little higher from a short-term point of view, considering how far and fast EURUSD has fallen in the past few months and how heavily short EUR the market is sitting now.”
“US data today may help set the tone; we are looking for a good outcome from US durables would be USD-supportive. In the event of a disappointment, EURUSD may have another run back up to 1.13+.”
Key Quotes
“EURUSD remains in a range above 1.12 and while we remain conviction EUR bears from a longer-term point of view, we also think there is a chance that the EUR might steady or even squeeze a little higher from a short-term point of view, considering how far and fast EURUSD has fallen in the past few months and how heavily short EUR the market is sitting now.”
“US data today may help set the tone; we are looking for a good outcome from US durables would be USD-supportive. In the event of a disappointment, EURUSD may have another run back up to 1.13+.”