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- EUR/USD: Trend signals lean bullish – Scotiabank
EUR/USD: Trend signals lean bullish – Scotiabank
EUR/USD consolidates in the mid-1.09s. Economists at Scotiabank analyze the pair’s outlook.
Firm support on minor weakness
Consolidation is evident in EUR/USD price action, with the EUR essentially moving sideways in a tight range around the mid-1.09s.
Trend signals lean EUR bullish, suggesting firm support on minor weakness.
EUR gains through the 40-DMA (1.0859 today – and important support now) should cue up more gains in the near-term through 1.10 and perhaps towards the May peak at 1.1090.
See: EUR/USD can push on to the 1.1000/1030 region today – ING
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