26 May 2015
EUR/USD: bias remains negative – InvestingBetter
FXStreet (Barcelona) - Alpesh Patel of InvestingBetter, maintains a negative bias on EUR/USD, but warns that a disappointing US data today might allow for a upside correction.
Key Quotes
“The Euro suffered from fresh concerns about Greece’s ability to meet a loan repayment to the IMF and this news combined with the encouraging US inflation report pressured the Single currency towards fresh lows.”
“The bias in the currency is negative and as long as the speculation chatter on whether Greece will be able to meet its obligations continues we see little chance for the Euro to recover.”
“The release of the US Durable Goods report and Consumer Confidence levels today might allow a correction if the print lower as expected but we would remain cautious over any reversal opportunities.”
Key Quotes
“The Euro suffered from fresh concerns about Greece’s ability to meet a loan repayment to the IMF and this news combined with the encouraging US inflation report pressured the Single currency towards fresh lows.”
“The bias in the currency is negative and as long as the speculation chatter on whether Greece will be able to meet its obligations continues we see little chance for the Euro to recover.”
“The release of the US Durable Goods report and Consumer Confidence levels today might allow a correction if the print lower as expected but we would remain cautious over any reversal opportunities.”