Economists at Scotiabank analyze EUR/USD technical outlook.
“Intraday trading patterns are positive for the EUR.”
“Spot’s snap higher form the session low has developed into a short-term bull ‘hammer’ signal and gains have extended through the May downtrend resistance at 1.0720 (now support).”
“Gains will have to develop a bit more and hold on a daily closing basis but corrective EUR gains could extend a bit more towards 1.0775/1.0825 from here.”
See: EUR/USD may be gently making its way to the March lows at 1.0515/0530 – ING
© 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.