OctaFX | OctaFX Forex Broker
Open trading account

What’s the sentiment around the EUR/USD today? – Westpac and Commerzbank

FXStreet (Edinburgh) - EUR/USD was once again rejected around 1.2960 in early trade, originating the current leg lower to the 1.2930 region.

“The first ECB TLTRO allotment on Thu is likely to reveal substantial uptake, with an outcome in the range of EUR250-350bn realistic. EUR impact is somewhat ambiguous – much of the funding is likely to be used for carry trades within the Eurozone. However, the message that the ECB’s balance sheet is on the cusp of sharp expansion is EUR negative. EUR/USD looks a sell into 1.30”, recommended the research team at Westpac Global Strategy Group.

Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggested the pair “remains in consolidation mode, however rallies are indicated to terminate circa 1.2990 and given that we find the accelerated downtrend also here at 1.3007 we will assume that the market will remain directly offered while capped here”.

EUR/CHF fell in order to rebound again above 1.21

EUR/CHF dropped from 1.2106 to the Asian low of 1.2095 as the bulls wasted their chance to settle above 1.2100 pivot, where it is currently trading.
Read more Previous

UK inflation and ZEW will take centre stage – Danske Bank

Flemming Nielsen, Senior Analyst at Danske Bank, underlines today’s important data releases in Europe....
Read more Next
Start livechat