EUR/USD to extend its gains toward the low-1.05s – Scotiabank
Steady gains in the EUR/USD since Tuesday leave the pair trading relatively firmly. Economists at Scotiabank note that EUR/USD is on the cusp of a further push higher.
EUR/USD nears 200-Day Moving Average test
“Short-term trading patterns are positive, with the EUR gaining steadily from its early week low and accelerating higher yesterday after regaining the 1.03 zone.”
“EUR/USD is on the cusp of retesting the mid-Nov high (1.0479) on the short-term chart and we continue to think that gains should extend to the low 1.05 (retracement resistance point) following the break above long term trend resistance. More significant, however, is the fact that the EUR is poised to regain (conclusively) its 200DMA, which it last saw in Jun 2021. Pushing through this benchmark would be hugely supportive from a market point of view.”
Reprinted from FXStreet_id，the copyright all reserved by the original author.
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.