- Analytics
- News and Tools
- Market News
- EUR/USD looks set to sustain losses under 1.08 – Scotiabank
EUR/USD looks set to sustain losses under 1.08 – Scotiabank
EUR/USD gains to mid-1.08s. Nonetheless, economists at Scotiabank expect the pair to move below he 1.08 level.
Downward pressure remains in place
“The EUR’s solid rebound off sub 1.08 levels, to trade as low as 1.0761 yesterday, to the mid-figure zone is giving the impression that the EUR’s decline may have neared an end. Still, though the EUR broke the trendline from its late-March high, downward pressure remains in place that points to firmer losses under 1.08 – with the close under the figure yesterday augmenting the bearish outlook.”
“Support is ~1.0820 followed by the figure zone, ~1.0780, and ~1.0760.”
“Resistance is ~1.0865 followed by the 1.09 zone.”
© 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
