EUR Trading Outlook (27-04-2015)
EUR/USD
• Weak German IFO expectations data sinks pair ahead of NY open
• NY lifts from ~1.0805/10 as US durables core data is weak
• US yields tumble & broad based USD sales follow
• EUR/USD up near 1.0890 as DE-US yield spreads tighten
• Pair lifts into daily cloud & nears 76.4 Fib of 1.103-1.0521
• RSIs biased up, more gains likely, March high eyed by s-t bulls
USD/JPY
• USDJPY falls after Core Durable Goods down for 6th straight month
• Still in broad range but no bounce; 118.30-50 support key
• Pair traded poorly all week despite strong rally in Nikkei
• Broad dollar undermined by US rate move; Fed getting squeezed out of 2015