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10 Nov 2014
EUR/USD - The road to the 1.20 area is open - KBC
FXStreet (Barcelona) - The Research Team at KBC view a long term bullish trend for the dollar and mention a moderate profit taking in the morning.
Key Quotes
“From a technical point of view, the break below 1.25 opens the way to the 1.2043/1.1877 key support area (July 2012 low/Crisis low June 2010). We think that those levels are feasible. Strong USD data might help to go that way. One note of caution, there is quite a big consensus among analysts and investors on the USD trend. If the news flow would deviate from the expected script, a correction is possible. Even so we don’t expect such a correction, if any, to really change the trend.”
Key Quotes
“From a technical point of view, the break below 1.25 opens the way to the 1.2043/1.1877 key support area (July 2012 low/Crisis low June 2010). We think that those levels are feasible. Strong USD data might help to go that way. One note of caution, there is quite a big consensus among analysts and investors on the USD trend. If the news flow would deviate from the expected script, a correction is possible. Even so we don’t expect such a correction, if any, to really change the trend.”