EURUSD Technical Analysis 2015, 05.07 - 12.07: ranging between the levels to be ready for breakdown - page 2
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Press review
Sergey Golubev, 2015.07.09 07:42
JP Morgan about EUR/USD: Levels & Targets (based on efxnews article)
"EUR/USD overnight break above 1.0983/1.1002 (minor 38.2 %/pivot) eased some downside pressure, but only through clear moves above 1.1094 and 1.1108 (h.Ich.-lagging/h. trend) we’d reach neutral territory," says JP Morgan.
"On the downside, JPM sees the next T-zone between 1.0815 and 1.0783/72/44/04 (May low/c=a/d. Ich.-lagg./int. 76.4 %//daily trend)."
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Press review
Sergey Golubev, 2015.07.09 12:15
Credit Agricole - Keep Selling Rallies In EUR & AUD (based on efxnews article)
"Although such an outcome would trigger EUR upside, we remain of the view that rallies should be sold. This is due to investors’ preference of using the single currency for funding investments in riskier assets such as equities and as the ECB is unlikely to turn less dovish anytime soon."
"In Australia June employment data was released above expectations. This in turn supports expectations of stabilizing price developments to the benefit of investors’ central bank rate expectations. This in combination with stabilizing China-related sentiment has been keeping the AUD in demand."
"In the short-term we do not expect further upside on the back of further improving risk sentiment. From a broader angle, however, rallies should still be sold as any tightening of monetary conditions on the back of a further appreciating currency is unlikely welcomed by the RBA."
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Sergey Golubev, 2015.07.10 09:24
BNP Paribas - How To Trade Greece's End-Game (based on efxnews article)
1. Sell EUR relief rallies against USD, GBP:
"This scenario produces a relief rally across most asset classes. European equities would rally and peripheral spreads would narrow. It is unlikely the EUR would appreciate broadly as it is difficult to argue that the single currency is trading at a discount to valuation. Outcome 1 would provide a catalyst for the re-establishment of EUR-funded carry trades," BNPP advises.
"Accordingly, the EUR should depreciate, especially against higher yielders such as the USD and GBP. A clear exception would be EURCHF, which is likely to rally in this scenario. The CHF has served as a safe-haven – as indicated by the net long exposure of +24.," BNPP projects.
2. Sell EUR/JPY:
"This is the scenario the market fears...We view that EURJPY shorts would perform even better in this scenario, as an anticipated delay to Fed tightening would weaken the USD," BNPP advises.