- Analytics
- News and Tools
- Market News
- EUR/USD: Looks well-supported on dips – Scotiabank
EUR/USD: Looks well-supported on dips – Scotiabank
The Euro (EUR) is flat on the day and down only modestly on the week as it holds a neutral range trade around 1.0850, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
Short term range trading between 1.07/1.09
“There are no major data reports to note from the Eurozone and no comments from central bankers. Markets have largely shrugged at news of a significant and highly coordinated attack on the French rail network as the Paris Olympics get underway. More, broad range trading looks likely in the short run between 1.07/1.09.”
“Range trading around 1.0850 has evolved largely as expected over the past 24 hours. The EUR looks well-supported on dips and has a quietly bid look to short-term price action, with the chart suggesting steady accumulation of EUR on minor dips in the past few days. Above 1.0875 should be positive. Support is 1.0825.”
© 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
