5 Jun 2015
EUR/USD hurt by Greece, eyes 1.05 by year-end – Scotiabank
FXStreet (Edinburgh) - In the view of Eric Theoret, Currency Strategist at Scotiabank, the pair could finish the current year around 1.05.
Key Quotes
“Greek risk has been deferred with the bundling of IMF payments into month end, coinciding with the end of the current programme”.
“Greece appears to be no closer to an agreement with its creditors, with near-term headline risk centered on PM Tsipras’ parliamentary address”.
“We maintain a bearish, medium-term view on EUR and look to downside into year end with a target of 1.0500”.
“EURUSD short-term technicals: mixed—EUR’s three-session rally ended on Thursday with the formation of a bearish shooting star doji”.
“EUR appears unable to break above Thursday’s open at 1.1275. Signals are conflicted, and we look to renewed downside on a break of the 21 day MA at 1.1142”.
Key Quotes
“Greek risk has been deferred with the bundling of IMF payments into month end, coinciding with the end of the current programme”.
“Greece appears to be no closer to an agreement with its creditors, with near-term headline risk centered on PM Tsipras’ parliamentary address”.
“We maintain a bearish, medium-term view on EUR and look to downside into year end with a target of 1.0500”.
“EURUSD short-term technicals: mixed—EUR’s three-session rally ended on Thursday with the formation of a bearish shooting star doji”.
“EUR appears unable to break above Thursday’s open at 1.1275. Signals are conflicted, and we look to renewed downside on a break of the 21 day MA at 1.1142”.