- Analytics
- News and Tools
- Market News
- EUR/USD: Sustained break above 55-DMA at 1.0719 to boost near-term outlook – Scotiabank
EUR/USD: Sustained break above 55-DMA at 1.0719 to boost near-term outlook – Scotiabank
EUR/USD is consolidating. The pair needs to surpass the 55-Day Moving Average at 1.0719 to see a brighter outlook, economists at Scotiabank report.
Strong support aligns at 1.0650
“Price patterns that developed around yesterday’s peak at 1.0749 suggest a top/reversal is in place (‘evening star’ reversal on the 6-hour candle chart).”
“The pair is running into broader resistance on the daily chart, defined by the 55-DMA (1.0719); spot closed just above this point yesterday but a more obvious and sustained break is needed to boost the EUR’s near-term outlook.”
“Intraday support is 1.0665 and (stronger) at 1.0650.”
© 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
