14 Sep 2015
EUR/USD bullish technically but fundamentals may prevail- UOB
FXStreet (Guatemala) - Analysts at UOB Group explained that at the start of FOMC week sees the dollar generally offered, more so in G10 than Asia.
Key Quotes:
"We still hold the view that Fed will hike rates by 25bps this week with a “one and done” base case. That being said, dollar should be supported later part of the week.
EUR/USD bullish1-3 week outlook: Outlook shifted to bullish with a target of 1.1475. The break above 1.1255 late last week has shifted the outlook for EUR to bullish with a target of 1.1475. In order to maintain the current nascent momentum, any pull-back should not move back below the break-out level of 1.1250/55."
Key Quotes:
"We still hold the view that Fed will hike rates by 25bps this week with a “one and done” base case. That being said, dollar should be supported later part of the week.
EUR/USD bullish1-3 week outlook: Outlook shifted to bullish with a target of 1.1475. The break above 1.1255 late last week has shifted the outlook for EUR to bullish with a target of 1.1475. In order to maintain the current nascent momentum, any pull-back should not move back below the break-out level of 1.1250/55."