Forex Flash: Today's strategy for EUR/USD – Commerzbank, Danske Bank and UBS


FXstreet.com (Barcelona) - The three banks coincide once again in recommending to short the pair although not at the same prices. The Copenhagen based bank, Danske Bank, says in its daily technical report “EUR/USD sell 1.2745 not filled, look to sell, await trade opportunity", while Commerzbank suggests to stay “short 1.3035, lower stop from 1.3070 to 1.2955. Partially cover 1.2700 looking to cover the remainder 1.2650”. UBS' Chris Walker, believes the cross will be at 1.30 in the month ahead and at 1.25 in the next 3 months.

The collapse of Greek talks and the call of new elections has thrown the eurozone into a new round of uncertainty. The pair has lost 5 cents since the beginning of the month. The EMU's CPI and trade balance figures are due to be announced today. The CPI should reach 2.6% (YoY) while the trade balance should have a surplus of 4.9 billion in euro in March.

The pair is currently trading at 1.2701, gaining 0.23%.

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