#EURUSD @ 1.07212 : Sustained break above 55-DMA at 1.0719 to boost near-term outlook – 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)]
EUR/USD is consolidating. The pair needs to surpass the 55-Day Moving Average at 1.0719 to see a brighter outlook, economists at Scotiabank report.
“Price patterns that developed around yesterday’s peak at 1.0749 suggest a top/reversal is in place (‘evening star’ reversal on the 6-hour candle chart).”
“The pair is running into broader resistance on the daily chart, defined by the 55-DMA (1.0719); spot closed just above this point yesterday but a more obvious and sustained break is needed to boost the EUR’s near-term outlook.”
“Intraday support is 1.0665 and (stronger) at 1.0650.”
[/s2If]
Join Our Telegram Group
