- Analytics
- News and Tools
- Market News
- EUR/USD: Break below Monday low of 1.0660 to trigger a drop to 1.05 – Scotiabank
EUR/USD: Break below Monday low of 1.0660 to trigger a drop to 1.05 – Scotiabank
EUR/USD slips after failing to extend through 1.08. Economists at Scotiabank expect the pair to test the Monday low near 1.0660.
ECB comments ahead
“ECB officials continue to manage rate expectations astutely, with rhetoric supporting the outlook for more tightening. ECB President Lagarde speaks today. Comments are likely to reaffirm the outlook for another 50 bps hike in Mar and more data dependent hikes (i.e., a likely downshift to 25 bps hikes) thereafter.”
“The EUR’s failure and rejection (via a bearish outside range signal on the 6-hour chart) against noted resistance around 1.08 yesterday seals the near-term technical outlook for the single currency and targets a retest of the Monday low near 1.0660. A break below here targets a drop to 1.05.”
© 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
