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EUR/USD bounced on Trump’s comments against raising interest rates. Where next for the pair? Here is the view from TD.

Here is their view, courtesy of eFXdata:

TD Research discusses EUR/USD outlook and flags  a scope for a move towards 1.16 in the near-term.

“The USD looks stretched  against nearly all the G10 currencies. Our cyclical valuation models show the USD sits around 2% overvalued and positioning indicators argue it is a well-populated trade.

Our HFFV shows the EURUSD trading a significant discount, suggesting room for a tactical bounce to 1.16. EURUSD vols also look rich, offering room for short vol plays too,” TD argues.

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