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1 Feb 2016
EURUSD: Trapped in a range – Lloyds Bank
FXStreet (Delhi) – Research Team at Lloyds Bank, suggests that the EURUSD remain trapped in a well-defined range between 1.07 and 1.0985/1.1090.
Key Quotes
“With the hint by President Draghi of further easing in March, we expect the EUR to remain an underperformer in general, but a break up through 1.0985 and then 1.1090 would still risk a move towards 1.1275 and maybe even 1.1465 again before coming back under pressure.
While under 1.0985/1.1090 the bias remains to the downside, but a break through 1.07 is needed to re-open the longer-term range supports at 1.05/1.0450. Long term our bias is still for a move to new lows below 1.0450 before we start to look for signs of a broader base developing.”
Key Quotes
“With the hint by President Draghi of further easing in March, we expect the EUR to remain an underperformer in general, but a break up through 1.0985 and then 1.1090 would still risk a move towards 1.1275 and maybe even 1.1465 again before coming back under pressure.
While under 1.0985/1.1090 the bias remains to the downside, but a break through 1.07 is needed to re-open the longer-term range supports at 1.05/1.0450. Long term our bias is still for a move to new lows below 1.0450 before we start to look for signs of a broader base developing.”