11 Jan 2016
EUR/USD appears capped near 1.10 – TDS
FXStreet (Edinburgh) - FX Strategist at TD Securities Ned Rumpeltin believes the pair’s upside could struggle in the vicinity of the 1.1000 handle.
Key Quotes
“Turning to Europe, the data and event calendar is relatively quiet. The minutes from the ECB’s December policy meeting (Thursday) are unlikely to provide much of a market-moving impulse”.
“This is likely to keep the emphasis on the USD side of the EURUSD equation for overall direction this week”.
“We see scope for a grind toward 1.0950, but 1.0990/95 should hold. A break above that mark would leave us expecting a steeper correction before the broader downtrend to fresh lows for this cycle resumes”.
Key Quotes
“Turning to Europe, the data and event calendar is relatively quiet. The minutes from the ECB’s December policy meeting (Thursday) are unlikely to provide much of a market-moving impulse”.
“This is likely to keep the emphasis on the USD side of the EURUSD equation for overall direction this week”.
“We see scope for a grind toward 1.0950, but 1.0990/95 should hold. A break above that mark would leave us expecting a steeper correction before the broader downtrend to fresh lows for this cycle resumes”.