11 Feb 2015
EUR/USD: Looking to sell strength at 1.1550 - Westpac
FXStreet (Bali) - The FX Strategy Team at Westpac is looking to sell strength in EUR/USD at 1.1550, noting that is hard to see EUR muster anything more than a brief squeeze.
Key Quotes
"We look to sell strength in EUR/USD at 1.1550 having recently closed out a short from 1.2425 at 1.1330 on 3rd February. There is still not a lot going for the euro right here even though price action of late speaks to a better tone. Hard to see EUR muster anything more than a brief squeeze given that: a) markets are toying with a June Fed rate hike after the stellar Jan US payrolls data; b) the ECB is about to launch sovereign QE in less than a month; and c) Greece remains highly combustible."
Key Quotes
"We look to sell strength in EUR/USD at 1.1550 having recently closed out a short from 1.2425 at 1.1330 on 3rd February. There is still not a lot going for the euro right here even though price action of late speaks to a better tone. Hard to see EUR muster anything more than a brief squeeze given that: a) markets are toying with a June Fed rate hike after the stellar Jan US payrolls data; b) the ECB is about to launch sovereign QE in less than a month; and c) Greece remains highly combustible."