#EURUSD @ 1.04734 : Further gains to the low 1.06 area are possible – Scotiabank
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EUR/USD has reached its highest since the summer. Economists at Scotiabank believe that the pair could hit the 1.06 region.
“A test of the low 1.05 area (50% retracement of the 2022 decline) is beckoning.”
“Broader trends are bullish, with the EUR trading above its 200-day MA and finding additional support from bullishly aligned DMI (trend strength) oscillators.”
“Further gains to the low 1.06 region are possible.”
See: EUR/USD could trade back up to the 1.0480/1.0500 area again – ING
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