EUR: Additional Position Squaring Related Upside Risk Likely N-Term – Credit Agricole

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The euro is looking for a new direction amid trade headlines and after the dust settled from the central bank decisions.

Here is their view, courtesy of eFXdata:

Credit Agricole CIB Research discusses EUR outlook and flags a scope for additional position squaring related upside in the near-term.

“EUR has been rebounding from multi-month lows. Both stabilizing sentiments as related to China as well as the most recent ECB research making a case of accelerating wage growth to the benefit of domestic price pressure has been driving the latest development.

With speculative oriented investors still holding on to a sizeable EUR short position, additional position squaring related upside risk seems likely,” CACIB argues.

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Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

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