EUR/USD: Bargain hunters to look at dips to near 1.0800 as a buying opportunity – Scotiabank
Source Fxstreet
EUR/USD holds a very narrow range in the low 1.0800s. Economists at Scotiabank analyze the world’s most popular currency pair outlook.
Resistance is seen at 1.0865/1.0875
Bargain hunters are still likely to look at dips to near 1.0800 as a buying opportunity for now.
Short-term trend dynamics are neutral while the daily and weekly DMIs still lean, if only moderately, EUR-bullish. That should limit downside pressure on spot in the near term at least.
Resistance is 1.0865/1.0875.
See: EUR/USD can stabilise around 1.0850 – ING
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
The technical analysis of the daily chart indicates a prevailing bullish bias, with the pair remaining within the ascending channel pattern.
Dow Jones futures advance 0.20% to trade above 47,100 during European hours ahead of the opening of the United States (US) regular session on Friday.
Gold catches fresh bids on the last day of the week amid reviving safe-haven demand.
From a technical perspective, the black liquid has been trending lower along a downward-sloping channel since late October.
The pair depreciates as the Pound Sterling (GBP) weakens following the Bank of England’s (BoE) dovish hold in November.
Related Instrument
