EUR/SD to reach levels around parity on a energy-related recession in Europe – Commerzbank EURUSD RussianFederation Energy Technical Analysis Banks
“If we see a wide-reaching, energy-related recession in Europe I consider EUR/USD levels around parity to be possible. Depending on the extent of the recession even more than that. However, if we do not see that, I continue to expect EUR/USD to recover.”
“Technical analysis is an act of desperation amongst market participants who do not understand the reasons for market developments and instead rely on recognizing patterns – of course without rigorous statistical tests as to whether significant patterns are even discernible. The latter would usually produce a negative result. Even if I cannot tell you which way EUR/USD is going to go at least I want to save you from that.