Currency Analyst since 2010

Westpac: EUR/USD this week

Analysts at Westpac point out that if the Fed reduces QE by less than $10-15 billion and Ben Bernanke gives more dovish press conference, EUR/USD may strengthen to $1.3450/3500.

At the same time, the specialists warn about Germany’s federal election on Sunday which may bring some caution to EUR as Chancellor Merkel seems in danger of losing a coalition partner. Westpac inclines to selling EUR/USD on rallies this week pointing out that much of Europe’s “good” economic news is probably already behind us.

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