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23 Jan 2015
What’s the sentiment around EUR/USD today? – Commerzbank and OCBC Bank
FXStreet (Edinburgh) - EUR/USD is navigating fresh lows in the mid-1.1300s as markets keeps digesting the recent announces by the European Central Bank.
According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair “remains dominated by its downtrend at 1.1605 and while capped here the market is under pressure… We target 1.1210 then 1.0835 longer term, both are long term Fibos”.
In addition, FX Strategist at OCBC Bank Emmanuel Ng commented, “With 1.1500 now violated with conviction, we continue to stay the course with a bearish EUR posture after the ECB delivered more than expected with regards to its QE… Intra-day, Greek political uncertainty over the weekend may also keep the common currency on unsteady ground intra-day”.
According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair “remains dominated by its downtrend at 1.1605 and while capped here the market is under pressure… We target 1.1210 then 1.0835 longer term, both are long term Fibos”.
In addition, FX Strategist at OCBC Bank Emmanuel Ng commented, “With 1.1500 now violated with conviction, we continue to stay the course with a bearish EUR posture after the ECB delivered more than expected with regards to its QE… Intra-day, Greek political uncertainty over the weekend may also keep the common currency on unsteady ground intra-day”.