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Analysts: comments on EUR/USD

Commerzbank: EUR/USD dropped to $1.3440 (4-month support and 38.3% Fibonacci retracement). This area is likely to hold the first bearish attack. Intraday growth will be limited by the $1.3555/1.3605 area - resell the pair from here. Break below $1.3440 would open the way to September lows of $1.3104. 

Crédit Agricole: Sell EUR/USD with a target of $1.3300. Low inflation opens the way for policy easing. The ECB President Mario Draghi is very likely to hint on the possible rate cuts on the press-conference on Thursday.

Danske Bank: Recent FOMC signals and market expectations of a "dovish" ECB are a bearish mix for EUR/USD. We are worried by the pair's inability to return above the $1.3500 mark. Bulls still have some chances, but the top seems to have been formed at $1.3830. Our year-end forecast is $1.3300. 


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