27 Jan 2015
What’s the sentiment around EUR/USD today? – OCBC Bank and Commerzbank
FXStreet (Edinburgh) - EUR/USD manages to keep the trade above the 1.1200 handle so far, with attention shifting to the FOMC meeting due tomorrow.
Emmanuel Ng, FX Strategist at OCBC bank, commented “Expect some consolidative price action as markets attempt to continue to digest the latest development out of the ECB and Greece and ahead of the FOMC. In the interim, expect the pair to continue to toy with the 1.1200-1.1300 neighborhood”.
Furthermore, Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggested the pair “has sold off to and is seeing a small recovery from 1.1098. We note the complex divergence of the daily RSI. Nearby resistance is the downtrend at 1.1536, the intraday Elliott wave count is suggesting possible rebounds into the 1.1370/1.1540 band”.
Emmanuel Ng, FX Strategist at OCBC bank, commented “Expect some consolidative price action as markets attempt to continue to digest the latest development out of the ECB and Greece and ahead of the FOMC. In the interim, expect the pair to continue to toy with the 1.1200-1.1300 neighborhood”.
Furthermore, Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggested the pair “has sold off to and is seeing a small recovery from 1.1098. We note the complex divergence of the daily RSI. Nearby resistance is the downtrend at 1.1536, the intraday Elliott wave count is suggesting possible rebounds into the 1.1370/1.1540 band”.