Citi discusses EUR/USD technical outlook and flags a bullish pattern on a close today above 1.1109.
"CitiFX Technicals highlights that EURUSD will post a bullish outside month on a close above 1.1109 this month. The past eight bullish outside months seen in EURUSD since 2001 have yielded an average bounce of 9% over 3 months," Citi notes.
"EUR says goodbye to Draghi Thursday and incoming ECB President Lagarde has set the scene for rethinking policy. Expressed in a TV interview in late NY Wednesday, she said: There is a moment when the question will need to be asked of the balance between the positive and negative effects of this interest rates. To what point does it favour investment? To what point is it bearable for saver," Citi adds.