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Aug 07 - 11:00 AM
EUR/USD: Breaks Of 1.15 Likely Shallow & Short-Lived; EUR/GBP; A Sell Above 0.8950 - Danske
First appeared on eFXplus on Aug 07 - 08:52 AM

Danske Research discusses its tactical EUR/USD and EUR/GBP outlook and trading strategy.

"The Italian budget issue should not weigh much further on EUR near term, positioning is stretched on USD longs (and neutral EUR), and good technical support is seen in EUR/USD around 1.15; this suggests to us that a break of this level should be shallow and short-lived," Danske argues. 

We look for EUR/GBP to remain range bound (0.875-0.895) near term with Brexit uncertainty expected to remain a key source of volatility. From a risk/reward perspective, we would consider selling EUR/GBP if the cross breaks above 0.8950," Danske adds. 

Source:
Danske Research/Market Commentary

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