- Analytics
- News and Tools
- Market News
- EUR/USD to find firm support on dips to the low 0.99 zone – Scotiabank
EUR/USD to find firm support on dips to the low 0.99 zone – Scotiabank
EUR/USD has carved out a well-defined range between 0.9950/1.0015 amid European Central Bank (ECB) hawks circle. Economists at Scotiabank expect the pair to find a solid floor around the 0.99 area.
EUR-bullish weekly signal from last week’s price action remains intact
“The hawkish drumbeat from ECB policymakers – Holzman, Makhlouf, Guindos in the past few hours – continues. ECB hawkishness may underpin the EUR but it may take a bit more clarity on the energy crunch to drive the EUR higher in the coming weeks.”
“Heavy losses from the 1.02 area earlier this week sustain the broader downtrend in this market and tilt overall risks to the downside in the short run. We note, however, that the EUR-bullish weekly signal from last week’s price action remains intact and this should mean firm support for the EUR on dips to the low 0.99 zone still.”
© 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
