16 Jan 2015
What’s the sentiment around EUR/USD today? – Commerzbank and BTMU
FXStreet (Edinburgh) - EUR/USD is still shocked by the SNB decision on Thursday, although it seems to have found a comfort zone above the 1.1600 handle so far.
Karen Jones, Head of FICC Technical Analysis at Commerzbank, argued “the new low of 1.1567 has not been confirmed by the daily RSI, and we have yet to take out the 1.1640 2005 low on a weekly closing basis in order to confirm the next leg lower is underway”.
In addition, and in light of the upcoming crucial ECB meeting, analysts at BTMU commented “We are maintaining a bearish bias for the week ahead (but a much wider range due to the ECB) as we see a greater chance of the euro remaining heavy into the ECB monetary policy meeting on 22nd January”.
Karen Jones, Head of FICC Technical Analysis at Commerzbank, argued “the new low of 1.1567 has not been confirmed by the daily RSI, and we have yet to take out the 1.1640 2005 low on a weekly closing basis in order to confirm the next leg lower is underway”.
In addition, and in light of the upcoming crucial ECB meeting, analysts at BTMU commented “We are maintaining a bearish bias for the week ahead (but a much wider range due to the ECB) as we see a greater chance of the euro remaining heavy into the ECB monetary policy meeting on 22nd January”.