Forex Flash: Euro bullish or lack of direction? - banks analysis: "On Friday, the EUR/USD closed the week at 1.2325, near to the 'magic number' for analysts at Danske Bank that are suggesting to go long at 1.2323, targeting August highs at 1.2444. In the opinion of Axel Rudolph, expert at the German lender, the cross could revisit 1.2395 (MA55d) while trading above 1.2255. He also adds "only a drop through Thursday’s 1.2255 low will put the 1.2162/33 support zone, and then the 1.2042 on the map. These downside targets will remain in focus while the MA55d at 1.2395 caps".
On the other hand, Commerzbank's economist Antje Praefckesays says that as far as the "Forex market is currently lacking clear direction in regard to the main currencies," the "EUR-USD is likely to continue its sideways trading with an underlying downward tendency."
Meanwhile, Praefckesays points that "During the summer break there are unlikely to be any new developments through the official channels. The issues of debt crisis and QE3 are not likely to progress before September.""
'via Blog this'
