EUR/USD: POTENTIALLY BULLISH PRICE ACTION ON THE WEEKLY CHART WILL SUPPORT THE IDEA OF A REBOUND – SCOTIABANK
EUR/USD is little changed on the day after modest, earlier gains stalled just below 1.0900. Economists at Scotiabank analyze the pair’s outlook.
EUR rally capped below 1.0900 for now
A solid rebound from Thursday’s intraday low (coinciding with a test of the 100-DMA and the 50% Fib retracement of the EUR’s Q4 rally) may well equate to the market setting the low for the EUR’s January decline.
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