Trader, analyst and instructor with a 6-year experience

Large banks: what to expect from EUR/USD?

Despite the change in Fed's forward guidance, the overall tone has become much softer. As a result, we've seen a strong wave of USD selling durring Yellen's press-conference: EUR/USD jumped to 1.1044. The majority of banks' positions were stopped out. 

The only bank that stays in EUR/USD is Citi Bank:

1) SHORT from 1.1368, TAKE PROFIT 1.0000, STOP LOSS 1.1690 (since Feb. 6)

2) SHORT from 1.1430, TAKE PROFIT 1.0400, STOP LOSS 1.1710 (since Feb. 3)

Meanwhile, Commerzbank sees the bullish correction limited at 1.1045. They are getting ready to reenter shorts. 

RBC Capital Markets are also going to sell in the $1.1050-1.1100 range, targeting parity in the medium term.

Scroll to top