#EURUSD @ 1.06930 Near-term focus on the downside towards a retest of the 1.05/1.06 range – Scotiabank
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
The EUR is trading flat against the USD. Economists at Scotiabank expect the EUR/USD to head lower towards the 1.05/06 region.
“The EU revised its growth outlook to 0.9% this year (from 0.3%), which puts the Eurozone more or less in line with North American rates of growth.”
“Weakness below support in the low 1.07s last week weakened the EUR’s short-term technical picture at least. But weekly price action turned less supportive at the start of the month and EUR losses below the 55-day MA (now resistance at 1.0690) keep the near-term focus on the downside and towards a retest of the 1.05/1.06 range.”
[/s2If]
Join Our Telegram Group
