16 Feb 2015
EUR/USD might see further recovery in the short-term – Varengold
FXStreet (Barcelona) - The Varengold Bank Research Team notes that technicals suggests EUR/USD might extend its recovery in the short-term, while longer-term bearish outlook stays intact.
Key Quotes
“Since June the bears took control over this currency pair and the euro experienced a sharp decline versus the USD and even reached its lowest level for more than 10 years. Since then, the shared currency was able to regain some of its strength and appreciated from a level around $1.11 to $1.14 per EUR.”
“According to the indicators we may even see a further recovery of the EUR, at least in the short run. The overall trend however remains bearish.”
Key Quotes
“Since June the bears took control over this currency pair and the euro experienced a sharp decline versus the USD and even reached its lowest level for more than 10 years. Since then, the shared currency was able to regain some of its strength and appreciated from a level around $1.11 to $1.14 per EUR.”
“According to the indicators we may even see a further recovery of the EUR, at least in the short run. The overall trend however remains bearish.”