#EURUSD @ 1.08727 set to reach 1.1000/50 shortly – Scotiabank
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EUR/USD gains have extended to trade on a 1.09 handle for the first time since last April. New cycle highs are set to keep the focus on gains extending to the 1.10+ zone, according to economists at Scotiabank.
“Intraday gains to new cycle highs plus solid-looking trend oscillators across the short, medium and long term DMIs all point to EUR gains extending. But spot’s drop back from the session peak is leaving a negative print on the intraday chart which may see more EUR losses early in the American session.”
“Look for minor dips (mid-1.08s) to remain well supported.”
“We look for EUR gains to reach 1.1000/50 shortly.”
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