6 Mar 2015
EUR/USD still poised to head lower - FXCharts
FXStreet (Bali) - Jim Langlands, Founder at FXCharts, notes that the downside still looks to be the direction that EUR/USD is heading in.
Key Quotes
Nearer home, today will be a busy session with the EU GDP (exp 0.3%qq, 0.9% yy) and then the US Jobs/NFP (exp 5.6%, 240K).
The Euro was originally lifted to a high of 1.1113 today after the upgraded projections but then reversed sharply once Draghi announced the commencement of the QE programme, and has so far seen a low of 1.0986.
Direction will depend on the numbers, but the downside still looks to be the direction that we are heading in, with 1.0900 and then 1.0800 the next real targets, although as we said yesterday there is not an awful lot to hold the Euro up ahead of the Sept 2003 low at 1.0759.
Key Quotes
Nearer home, today will be a busy session with the EU GDP (exp 0.3%qq, 0.9% yy) and then the US Jobs/NFP (exp 5.6%, 240K).
The Euro was originally lifted to a high of 1.1113 today after the upgraded projections but then reversed sharply once Draghi announced the commencement of the QE programme, and has so far seen a low of 1.0986.
Direction will depend on the numbers, but the downside still looks to be the direction that we are heading in, with 1.0900 and then 1.0800 the next real targets, although as we said yesterday there is not an awful lot to hold the Euro up ahead of the Sept 2003 low at 1.0759.