EUR/USD needs to regain the upper 1.0800 area to enjoy further gains – Scotiabank
Source Fxstreet
EUR/USD remains in the mid 1.0800-1.0900 range. Shaun Osborne, Chief FX Strategist at Scotiabank, analyzes the pair’s outlook.
Flat trading in the short run
Intraday price moves leave the EUR/USD pair trading more or less mid-way between support at 1.0800 and resistance at 1.0890.
Trend momentum is weak and suggests flat trading in the short run.
Longer-term price action looks a little more supportive to my eye but spot needs to regain – and hold – the upper 1.0800 area if spot gains are to develop further.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
The US Dollar has opened the week on a moderate bearish tone.
Major currency pairs trade in familiar ranges to start the week as investors gear up for key macroeconomic data releases and central bank meetings.
Crude Oil is posting minor gains on Monday, with price action approaching levels close to $63.00 after bouncing from lows of $61.50 on Friday.
Binance Coin has gained over 6% in the past week, setting a new all-time high.
The EUR/GBP cross attracts some sellers to near 0.8645 during the early European session on Monday.
Related Instrument
