FXstreet.com (Barcelona) - Upbeat data in the euro zone out of M3 money supply, solid Spanish short-term auctions and rumours involving Fitch and the likeliness of a downgrade of the credit rating of the US were fuelling the EUR intraday upside, posting fresh 2-day highs above the 1.2560, from 1.2480
Researchers at Danske Bank recommends going ‘long’ around the 1.2440 region, to cash-up profits above 1.2560
On the opposite hand, Karen Jones, expert at Commerzbank, comments “the rise seen since the July low at 1.2042 looks corrective, meaning that we retain our medium term bearish outlook while the 1.2669/1.2748 resistance area caps on a weekly closing basis”. The analyst adds her current position, ‘shorting’ the cross in the vicinity of 1.2560, targeting 1.2395
Analyst Chris Walker at UBS maintains the 1m and 3m outlooks at 1.25 and 1.20 respectively. The current stance is neutral, signaling that “the pair is currently trading just above support at 1.2457 - a decline through this would open 1.2375. Resistance is at 1.2536 ahead of 1.2595”.
Researchers at Danske Bank recommends going ‘long’ around the 1.2440 region, to cash-up profits above 1.2560
On the opposite hand, Karen Jones, expert at Commerzbank, comments “the rise seen since the July low at 1.2042 looks corrective, meaning that we retain our medium term bearish outlook while the 1.2669/1.2748 resistance area caps on a weekly closing basis”. The analyst adds her current position, ‘shorting’ the cross in the vicinity of 1.2560, targeting 1.2395
Analyst Chris Walker at UBS maintains the 1m and 3m outlooks at 1.25 and 1.20 respectively. The current stance is neutral, signaling that “the pair is currently trading just above support at 1.2457 - a decline through this would open 1.2375. Resistance is at 1.2536 ahead of 1.2595”.
