EUR/USD: short-term views
Analysts at SEB Bank expect more upside. The fact that the pair tested levels above $1.3700 means that the decline from $1.3894 might have been just a 3-wave downside correction. The specialists think that euro will reach a new high in the near future. In the very short-term there will be consolidation in the area between $1.3620/1.3663 and $1.3740 as the market players will be digesting Thursdays rising benchmark candle. Analysts at Nordea Markets are holding longs (from $1.3450) targeting levels above $1.3850. In their view, euro’s bounce from the 100-day MA is a good sigh.
Citibank points out that although a better German Ifo due today at 09:00 GMT could provide near-term support for the single currency, but it’s already mostly priced in.
Chart. Daily EUR/USD