- Analytics
- News and Tools
- Market News
- EUR/USD to plummet into the 1.11s on a break below 1.14 – Scotiabank
EUR/USD to plummet into the 1.11s on a break below 1.14 – Scotiabank
EUR/USD seems to have gone into a consolidation phase. Still, economists at Scotiabank think a breach of 1.15 is only a matter of time with a test of 1.14 following relatively quickly.
EUR/USD at risk of falling below 1.15
“The EUR/USD traded narrowly in a <30pips range with decent support in the 1.1550 zone on dips while the 1.1575 area stands as resistance.”
“The EUR’s steep swings over the past two weeks have left it a clear risk of a test – and cross – of 1.15 amid continued downward pressure since late-May. A cross under the figure sees limited support until 1.1422 and the 1.14 area and then losses could quickly extend into the 1.11s.”
“The 1.16 zone is resistance followed by the mid-figure area that stands as downtrend resistance.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
