EUR/USD: A clear push through 1.0880/1.0890 should see gains progress to 1.1000/1.1100 – Scotiabank
Source Fxstreet
EUR/USD nudges higher. Economists at Scotiabank analyze the pair’s outlook.
Narrower EZ/USD spread lifts EUR
EUR/USD has been supported by narrowing spreads versus the USD in the past couple of weeks. A clearly dovish ECB may undermine that trend, and weigh on the EUR, but a hold and ‘no rush’ messaging may support a firmer EUR.
Some positive price signals (spot moving above the 40-DMA at 1.0836) and an alignment of shorter-term (intraday and daily) trend oscillators give the short-term EUR chart a positive spin to start the week.
The EUR’s grind higher since the mid-February low may have a chance to develop a little more momentum and test resistance at 1.0880/1.0890. A clear push through here should see gains progress to 1.1000/1.1100.
Support is firm at 1.0795/1.0800.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Bitcoin price surges toward $72,000, driving a collective rally in crypto concept stocks, with MicroStrategy extending gains by 10%.In pre-market trading on August 20, Eastern Time, Bitco
As of the Asian session on August 20, gold prices (XAUUSD) surged again today after breaking above $4,500 on Wednesday, reaching a nearly two-month high of $4,527.12 before pulling back i
The cryptocurrency market staged a strong rebound, with Bitcoin (BTCUSD) surging over 8% intraday to approach $70,000, reaching its highest level since early June and recording its larges
The US Treasury Department said on Wednesday that it will buy back more of its longer-term bonds, in an effort to curb a sharp increase in borrowing costs, the Wall Street Journal reported.
As of the Asian session on August 19, gold prices (XAUUSD) maintained a weak rebound intraday, rising about 0.2% on the day to trade near $4,340. Earlier on Tuesday, gold prices fell near
Related Instrument
