Here's a forecast for EUR/USD lower - target

Author: Eamonn Sheridan | Category: News

A snippet via MUFG on the euro - they are expecting the weakness to persist.

Main points from the note:
  • Recent price action for the EUR has been poor as it has failed to derive much support from both an improvement in the economic data flow from the euro-zone and an easing of downside risks to the growth outlook
  • Last month's relief rally on the back of progress towards a partial US-China trade deal and the pushing back No Deal Brexit risk has proven short-lived
  • EUR/USD failed to break above its 200- day moving at 1.1180 and has since fallen back below the 1.1000-level
  • The next target on the downside will be the early October low at 1.0879


ForexLive
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose