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9 Jan 2015
Selling euro at present levels not a good idea – Kshitij Consultancy
FXStreet (Barcelona) - The Kshitij Consultancy Team feels that the picture for euro would be clear only after ECB’s meeting on the 22nd of this month, and with the EUR/USD pair highly oversold it is not a good idea to sell euro at present levels.
Key Quotes
“FED doves are back in action calling for delay in rate hikes, and target more on inflation (meaning, continued QE and near zero-rates). Today's NFP, first of the year will put spotlight back on the US growth and employment. A better number will reinforce the idea that US is growing stronger. A bad number could reinforce the calls to delay rate hikes.”
“The trend remains to the down; however Euro is highly over sold on many parameters. A decent clarity on larger trend will emerge after the ECB meetings on 22nd. Selling Euro, at this juncture purely on technical grounds is not a good idea. The next big support is at 1.1630.”
Key Quotes
“FED doves are back in action calling for delay in rate hikes, and target more on inflation (meaning, continued QE and near zero-rates). Today's NFP, first of the year will put spotlight back on the US growth and employment. A better number will reinforce the idea that US is growing stronger. A bad number could reinforce the calls to delay rate hikes.”
“The trend remains to the down; however Euro is highly over sold on many parameters. A decent clarity on larger trend will emerge after the ECB meetings on 22nd. Selling Euro, at this juncture purely on technical grounds is not a good idea. The next big support is at 1.1630.”