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EUR/USD eyes 1.2375 heading into year-end – Citibank

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Analysts at Citi Group stays bearish on the US greenback in the Fed’s aftermath whilst keeping a bullish EUR/USD outlook heading into the year-end.

Key quotes
“We remain bearish USD. The FOMC did no longer rock the boat yesterday, and performed out very an awful lot in line with our expectations, with the key message continued, forceful stimulus, even besides new dovish impulses.”

“CitiFX Technicals notes that the pair closed above a accurate horizontal resistance stage at 1.2178 and is buying and selling at a new fashion high.”

“We anticipate at least a cross toward 1.2375 (measured move) with the aid of yr quit and perchance and extension closer to 1.25 as we noticed in January 2018 after the September 2017 excessive gave away.”

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