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13 Apr 2015
EUR/USD might make a quick move down to 1.04 - TDS
FXStreet (Barcelona) - FX Strategists at TD Securities, view that the Euro bear trend has resumed, and EUR/USD might make a quick move towards 1.04 before seeing a minor rebound.
Key Quotes
“The data calendar picks up again in the US this week, with retail sales, PPI, IP, housing, CPI data all due as well as an early look at April activity via the first of the regional surveys.”
“Investors appear to have decided that the Fed is not that far away from lighting the blue touch paper for “lift off” so positive data should add to the momentum in the dollar that was clearly starting to build up again last week, especially perhaps if the Empire and Philly surveys beat expectations and bolster hopes of a rebound in activity after a sluggish Q1.”
“Focus on prospects for Fed tightening will contrast with Wednesday’s ECB meeting where President Draghi will run through how the first month of the central bank’s asset purchase programme has gone and underscore that there is more to do despite the recent firming in EZ activity.”
“Price action last week looked negative for EURUSD and points (strongly, in our opinion) to a resumption of the broader bear trend evident in the past few months.”
“We look for a fairly quick move down to 1.04 from here now and expect firm resistance minor rebounds.”
“Intraday, we expect strong resistance at1.0580/90.”
Key Quotes
“The data calendar picks up again in the US this week, with retail sales, PPI, IP, housing, CPI data all due as well as an early look at April activity via the first of the regional surveys.”
“Investors appear to have decided that the Fed is not that far away from lighting the blue touch paper for “lift off” so positive data should add to the momentum in the dollar that was clearly starting to build up again last week, especially perhaps if the Empire and Philly surveys beat expectations and bolster hopes of a rebound in activity after a sluggish Q1.”
“Focus on prospects for Fed tightening will contrast with Wednesday’s ECB meeting where President Draghi will run through how the first month of the central bank’s asset purchase programme has gone and underscore that there is more to do despite the recent firming in EZ activity.”
“Price action last week looked negative for EURUSD and points (strongly, in our opinion) to a resumption of the broader bear trend evident in the past few months.”
“We look for a fairly quick move down to 1.04 from here now and expect firm resistance minor rebounds.”
“Intraday, we expect strong resistance at1.0580/90.”