EUR/USD: back to 1.1800? - Scotiabank
|Analysts at Scotiabank explained that the early focus will be on the German election and the loss of support for the mainstream SPD and Merkel’s CDU versus the gains made by the rightist AfD.
Key Quotes:
"However, the centrist FDP and Greens also picked up some ground and will likely figure in Merkel’s coalition building plans which may take some time to develop (4-6 weeks).
The outcome may slow Germany’s drive for broader EU reforms down the road but does not really move the needle for the EUR in the shorter term, we feel.
"The EUR has fallen sharply over the weekend, leaving spot close to testing shortterm support in the 1.1855/65 area. Weakness below here will be a “heads up” warning that spot is heading for a test of key trend channel support in the low 1.18s (1.1825)."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.