Technical Analysis

EUR/USD: Not a promote round present ranges – Credit score Agricole

EUR/USD up 40 pips to 1.1454 immediately

Credit score Agricole CIB Analysis discusses EUR/USD outlook and advises in opposition to promoting the pair round present ranges.

“All eyes this week might be on the EU Fee’s response
to the revised Italian funds in addition to preliminary November PMI
releases. Any signal of a rebound in manufacturing-sector associated
enterprise exercise could be taken as a constructive indication for the commerce
associated capital stream scenario. This has the potential to set off additional forex upside,
particularly as elevated speculative brief positioning is protecting
place squaring-related upside dangers firmly intact. In relation to
Italy we imagine many negatives are within the worth and that suggests the
bar for constructive surprises appears low,” CACIB notes. 

“In consequence to the above outlined circumstances we argue in opposition to promoting the one forex across the present ranges,” CACIB argues.

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