In the view of the analysts at Nordea Markets, EUR/USD is likely to be sold on rallies to 1.1000, with a downside target placed at 1.0760.
Key Quotes:
“Go short EUR/USD, with 1.0760 and a stop loss at 1.1100.
Reasons cited:
Global slowdown not over.
New record lows in 5y5y EUR inflation could re-ignite ECN monetary madness via a higher monthly purchase tempo in the QE-ternity (nice term) program in December.
USD liquidity will probably have to become scarce before the Fed really goes big on liquidity.”