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28 Mar 2014
What’s the sentiment around the EUR/USD today? – Commerzbank and OCBC Bank
FXStreet (Edinburgh) - The EUR/USD found some buyers in the vicinity of the critical support at 1.3700 on Friday, now managing to recover the 1.3735/40 area ahead of key German inflation figures.
In the opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, “We notice the TD perfected set up on the 240 minute chart, this suggests the downside exhausted for now and should see a rebound… Beyond a small rebound we look for losses to 1.3643, the end of February low and eventually the 1.3476 2014 low and 1.3467 the 55 MONTH ma”.
In addition, Strategist Emmanuel Ng at OCBC Bank commented, “Note that the 55-day MA currently residing at 1.3712 may attract a market searching for a consolidation after the mid-month run up”.
In the opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, “We notice the TD perfected set up on the 240 minute chart, this suggests the downside exhausted for now and should see a rebound… Beyond a small rebound we look for losses to 1.3643, the end of February low and eventually the 1.3476 2014 low and 1.3467 the 55 MONTH ma”.
In addition, Strategist Emmanuel Ng at OCBC Bank commented, “Note that the 55-day MA currently residing at 1.3712 may attract a market searching for a consolidation after the mid-month run up”.