EUR/USD: DIPS TO THE LOW 1.0800 AREA CONTINUE TO DRAW SUPPORT – SCOTIABANK
EUR/USD trades off lows. Economists at Scotiabank analyze the world’s most popular currency pair outlook.
Undertone remains soft
The EUR/USD pair closed Monday’s session below the 200-Day Moving Average (1.0842) for the first time since early December. The 200-DMA had provided some semblance of support for the EUR over the past week.
EUR dips to the low 1.0800 area continue to draw support, however, and retracement support (50% Fibonacci of the EUR’s Q4 rally) sits at 1.0793, ahead of 1.0712 (61.8%).
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.