Analysts at OCBC Bank prefer to position for weakness in the EUR/USD on potential further disappointment on the fiscal rescue front. Key quotes “The inability of politicians to cobble together a coherent fiscal rescue package will inhibit any EUR/USD resurgence, especially in a time where speed and decision are key.” “Note that the bounce yesterday failed to touch 1.0900. Risk-reward probably favours downside for now, even though the USD itself is also soggy.” “Immediate downside target at 1.0833, while 1.0920 caps.” “We initiate a tactical short EUR/USD (spot 1.0856), targeting 1.0435, with a stop loss at 1.1065.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next UK’s Dowden: British PM is ‘stable, improving and sat up’ in intensive care FX Street 2 years Analysts at OCBC Bank prefer to position for weakness in the EUR/USD on potential further disappointment on the fiscal rescue front. Key quotes “The inability of politicians to cobble together a coherent fiscal rescue package will inhibit any EUR/USD resurgence, especially in a time where speed and decision are key.” “Note that the bounce yesterday failed to touch 1.0900. Risk-reward probably favours downside for now, even though the USD itself is also soggy.” “Immediate downside target at 1.0833, while 1.0920 caps.” “We initiate a tactical short EUR/USD (spot 1.0856), targeting 1.0435, with a stop loss at 1.1065.” Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
