EUR crosses/EUR/USD/FXWW News/Trade Ideas

EUR outlook: Sell rallies against GBP and JPY as market focus returns to EZ banking sector

  • EUR/CHF could join EUR/JPY (see JPY outlook) in a deeper retracement, with 1.2215 the target here;
  • EUR/GBP is also still solidly in a bear trend and selling rallies is heavily favoured;
  • Market focus is returning to the EZ banking sector and renewed ‘flight of funds’ from the EZ to London or Zurich cannot be discounted;
  • EUR/USD remains in a bullish trend but has lost momentum.

My medium-term sense is that the EUR and the USD will re-ignite their race-to-the-bottom.

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