10 Dec 2013
Flash: EUR/USD: Bullet Proof Bull Trend - TDS
FXstreet.com (London) - Strategist at TD Securities noted that some mixed industrial production data out of France and Italy (French worse than expected, Italian better) has been mostly shrugged off by the EUR, and the primary focus for markets was a speech that ECB President Draghi gave.
Key Quotes:
“Fundamentals still point to a lower EUR/USD, and that remains our bias in the beginning of 2014, but for now the pair continues its trek higher along with the seasonal pattern over the past decade”.
“After Draghi’s speech, today’s calendar quiets down significantly. That could see some range trading in the coming hours, although as mentioned the prevailing winds are still higher. On the charts, the is some minor bull channel resistance spotted near 1.3770/80, ahead of the more significant 1.3830”.
Key Quotes:
“Fundamentals still point to a lower EUR/USD, and that remains our bias in the beginning of 2014, but for now the pair continues its trek higher along with the seasonal pattern over the past decade”.
“After Draghi’s speech, today’s calendar quiets down significantly. That could see some range trading in the coming hours, although as mentioned the prevailing winds are still higher. On the charts, the is some minor bull channel resistance spotted near 1.3770/80, ahead of the more significant 1.3830”.