- Analytics
- News and Tools
- Market News
- EUR/USD to find support on dips to the 1.0525/1.0535 zone – Scotiabank
EUR/USD to find support on dips to the 1.0525/1.0535 zone – Scotiabank
EUR/USD trades below the 1.06 level. Economists at Scotiabank analyze the pair’s outlook.
Continuation of choppy range trade
The EUR looks soft and losses from the early week high have been swift and relatively sharp. But spot prices have slipped back to the lower end of the rising trading channel in place since the start of the month and flat trend momentum signals on the intraday and daily oscillators rather suggest a continuation of choppy range trade. That should mean support for the EUR on dips to the 1.0525/1.0535 zone.
Resistance is 1.0605/1.0610.
© 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
