- Analytics
- News and Tools
- Market News
- EUR/USD to pressure the 1.11 support zone in the coming days – Scotiabank
EUR/USD to pressure the 1.11 support zone in the coming days – Scotiabank
EUR/USD opened with a big bearish gap but it has clambered back to trade positive on the session, if still lower than Friday’s close. Economists at Scotiabank expect the world's most popular currency pair to push lower towards the 1.11 zone in the coming days.
Gains above 1.15 are needed to confer a sense of strength
“Some gap-filling gains may confer a bit more strength on the EUR to the mid/upper 1.12s in the short run but we still rather think the EUR will struggle to gain meaningfully in the near/medium term.”
“Spot gains above 1.15 are needed to confer a sense of strength on the medium term charts and that looks a big ask at the moment.”
“Short-term trends are likely to be choppy but we look for renewed pressure on the 1.11 support zone in the coming days.”
© 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
