Euro Outlook
Forex NewsThe euro seems to be all dynamic and energetic heading to 1.4500/50 in the next sessions/week… participants are expecting the fed to trim u.s. interest rates on wednesday’s fomc meeting, and are betting on a further cut in december… technically, a possible slight corrective pullback may occur in the next 48 hours, probably after 1.4440/70 resistance, that may drive the euro down a bit to around 1.4380/55, possibly lower but maximum to 1.4330/15 (not favoured) before a new rally to 1.4485/1.4515 where we would expect a bigger consolidation to take place… the medium-term trend is euro-bullish and the target is 1.4655/65 in a 2-3 weeks time-zone; and only an hourly close below 1.4270 (anytime) can delay this upmove… the long-term objective was reviewed to the upside, with a new target at 1.4845/1.4950 that will looked at more confidently once the 1.4665 hurdle is out of way…. this trend will remain valid and ongoing unless a daily close below 1.4000 is registered anytime.
