14 Jul 2015
EUR/USD neutral in the short term – Westpac
FXStreet (Edinburgh) - Strategists at Westpac remain neutral on the pair in the short term.
Key Quotes
“A EUR/USD 1.08-1.14 range appears to be forming but the single currency should explore lower levels next week”.
“A likely strongly dovish policy message from Draghi at next week’s ECB press conference and a likely sharp fall in the ZEW survey as sentiment drops amid the surge in Greek tail risks should see the euro trade heavily”.
“Negative short term/medium term momentum bias is in conflict with the uptrend structure that has been in place since March 2015 low. Uptrend in play while 1.0819 holds. Neutral short term bias”.
Key Quotes
“A EUR/USD 1.08-1.14 range appears to be forming but the single currency should explore lower levels next week”.
“A likely strongly dovish policy message from Draghi at next week’s ECB press conference and a likely sharp fall in the ZEW survey as sentiment drops amid the surge in Greek tail risks should see the euro trade heavily”.
“Negative short term/medium term momentum bias is in conflict with the uptrend structure that has been in place since March 2015 low. Uptrend in play while 1.0819 holds. Neutral short term bias”.