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2 Jan 2015
Euro might see a near term rebound – Kshitij Consultancy
FXStreet (Barcelona) - The Kshitij Consultancy Team believe that the euro may be more bullish than the Pound in the near term, further noting that a rebound towards 1.22-23 for EUR/USD wouldn’t be surprising.
Key Quotes
“The Dollar maintains its strength in the opening days of the New Year. The Euro trades lower in Asia, just a whisker away from the Jul-12 low of 1.2042. It has been falling for the last six months and the market is hugely Short. We would not be surprised to see a bounce towards 1.22-23.”
“As mentioned yesterday, the Pound remains in a broad multi-year range of 1.50-1.70 and can fall to test 1.50 in the coming months. On balance, the Euro may be more bullish than the Pound in the near term. Note that the BOE Meeting is scheduled for 8th Jan, next week.”
Key Quotes
“The Dollar maintains its strength in the opening days of the New Year. The Euro trades lower in Asia, just a whisker away from the Jul-12 low of 1.2042. It has been falling for the last six months and the market is hugely Short. We would not be surprised to see a bounce towards 1.22-23.”
“As mentioned yesterday, the Pound remains in a broad multi-year range of 1.50-1.70 and can fall to test 1.50 in the coming months. On balance, the Euro may be more bullish than the Pound in the near term. Note that the BOE Meeting is scheduled for 8th Jan, next week.”