EUR/USD: Only limited scope for countertrend corrections – Scotiabank
EUR/USD pushes higher to mid-1.07s. Economists at Scotiabank analyze the pair’s outlook.
Minor dips to remain well-supported
Solid gains in the EUR are bringing spot within easy reach of 1.0766, 38.2 % retracement of the H2 slide in the EUR/USD pair.
Short-term gains look a little stretched but bullish momentum suggests only limited scope for countertrend EUR corrections at this point.
EUR/USD dips to the mid/upper 1.06s are likely to remain well-supported.
Resistance is 1.0805 (100- and 200-DMA signals converge there) and 1.0863 (50% retracement).
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.