Currency Analyst since 2010

EUR/USD: bearish views

EUR/USD keeps its consolidative move in the $1.3400/3300 area. SEB Bank points out that the triangle seen on the H4 chart is a continuation pattern and expect the pair to go below $1.3295 (Nov. 7 low) before long.  

Morgan Stanley set a sell limit at $1.3450, with a stop at $1.3550, and a target at $1.3200. According to the analysts, euro zone data have the potential to provide further weak readings, with declines in industrial production and still negative year-on-year GDP prints for Q3 expected by the market consensus.

Analysts at BNP Paribas also recommend selling EUR on any bounces higher against USD, GBP and AUD.

Chart. H4 EUR/USD

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