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Forex Flash: EUR/USD targets 1.3000 - Commerzbank

FXstreet.com (Barcelona) - The EUR/USD is now targeting the minor psychological level at 1.3000 and, “if bettered, the two month downtrend channel resistance line at 1.3026 will be in focus as well”, according to Commerzbank analysts. “This should cap with the next higher 1.3107 Friday high on a daily New York closing basis, however. While this is the case we will retain our medium term bearish forecast”, wrote analyst Karen Jones, pointing to downside targets at 1.2679/61 (61.8% Fibonacci retracement of the July-to-January rise and the November 2012 low). “Longer term we target the 78.6% Fibonacci retracement at 1.2400 and then 1.2042, the 2012 low”, she added.

Fundamental Morning Wrap: BoE remit pivot tops focus... for now

Good morning, how do you do? This mornings institutional research has a strong UK focus, as the aftereffects of the UK budget have been absorbed overnight. The shift in mandate for the BoE has come under focus, while in Europe, Cypriot events remain in key focus, but for now at least, the appetite for relentless coverage looks to have damped for now.
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Forex Flash: What can we expect of EUR/USD? – Commerzbank and UBS

The sentiment around the single currency remains depressed on Thursday, with the cross hovering over 1.2900 after poor PMI data from the euro zone dragged the euro to the area of 1.2880. The...
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