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1 Oct 2013
Flash: What’s the sentiment around the EUR/USD today? – Danske Bank and Commerzbank
FXstreet.com (Edinburgh) -The EUR/USD is trading closer to the 1.3600 handle after the discrepancies from both Republicans and Democrats triggered the shutdown of the US federal government on Tuesday. Despite the gloomy events, the attention remains on the more relevant debt ceiling debate, with the deadline around mid October.
According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair “continues to remain under pinned by the 1.3453 August high and we remain unable to rule out further gains at this stage. The TD perfected set up is suggesting that the upside is limited from here, but allows for potential move to 1.3585. We have something similar on the 240 minute chart which allows for a maximum of 1.3730”.
“We could see further upside for the cross today, not least if the positive sentiment is sustained towards peripheral bond markets. The FX markets will follow the US political situation closely and we underline that the apparent improved market sentiment this morning could easily turn”, observed Flemming Nielsen, Senior Analyst at Danske Bank.
According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair “continues to remain under pinned by the 1.3453 August high and we remain unable to rule out further gains at this stage. The TD perfected set up is suggesting that the upside is limited from here, but allows for potential move to 1.3585. We have something similar on the 240 minute chart which allows for a maximum of 1.3730”.
“We could see further upside for the cross today, not least if the positive sentiment is sustained towards peripheral bond markets. The FX markets will follow the US political situation closely and we underline that the apparent improved market sentiment this morning could easily turn”, observed Flemming Nielsen, Senior Analyst at Danske Bank.