FXstreet.com (San Francisco) - EUR/USD is trading in consolidation mode just above the 1.2250 area after losing the 1.2300 are the Thursday session and falling from 1-month high at 1.2440 at the beginning of the week. Currently the EUR/USD is pricing at 1.2259, 0.38% below opening price action.
Euro is in bearish mode, Shaun Osborne and Greg Moore from TDS research "think this is a challenging environment for the EUR," according to a recent article published. TDS analysts "continue to feel that old market adage of the trend (lower, in this case) being your “friend” applies very clearly with respect to EUR/USD."
Osborne and Moore "think short-term gains are liable to be limited to the upper 1.22s/low 1.23s from here and that a push below the 1.22 area in the next week or two is liable to see the EUR sell off pick up momentum again," the report concluded.
Euro is in bearish mode, Shaun Osborne and Greg Moore from TDS research "think this is a challenging environment for the EUR," according to a recent article published. TDS analysts "continue to feel that old market adage of the trend (lower, in this case) being your “friend” applies very clearly with respect to EUR/USD."
Osborne and Moore "think short-term gains are liable to be limited to the upper 1.22s/low 1.23s from here and that a push below the 1.22 area in the next week or two is liable to see the EUR sell off pick up momentum again," the report concluded.
