In today’s Forex Forecast, we discuss the outlook for EUR/USD and EUR/GBP, with Ryan Littlestone, Director and Trading Analyst at ForexLive.com.
EUR/USD: Heading lower
Littlestone notes that the EUR kept moving near the 1.07 area before finally breaking below the last. He believes that the pair is heading lower, awaiting a move towards this year’s lows.
While Littlestone remains bearish on the cross, he doesn’t expect a parity move yet.
On the US rates, Littlestone mentions that the data signals remain in support of a December move by the Fed.
EUR/GBP: Needs a BoE hike to move lower
Littlestone highlights that he has remained a seller on the EUR versus the GBP for a year now. While the longer-term view remains for a rate hike by both the Fed and the BoE, the cross will get a spike lower only when the UK sees a rate hike.Get the 5 most predictable currency pairs