Mar 11, 2013
Forex Flash: EUR/USD in another leg lower if slides below 1.2950/60 – TD Securities
The EUR/USD is staging mixed messaged, according to TD Securities analysts: "After Draghi downplayed the discussion on rate cuts last week, it seemed like the EUR could be staging a turn around. But then we saw the very strong US employment report that muddied the waters somewhat for EUR/USD”, wrote analysts Shaun Osborne and Greg Moore, now more neutral but biased in favor of the USD this week. “A break below 1.2950/60 should be a good signal that EUR/USD makes another leg lower, while a climb above 1.3120/30 would be a strong signal that the single currency is turning around”, they wrote.
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