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EUR/USD: 1.0900 is a good short entry-point - Scotiabank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 12, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - Analysts at Scotiabank explained that the short-term patterns are not especially demonstrative in terms of highlighting a particular bias for spot intraday in EUR/USD.

    Key Quotes:

    "The hourly chart notes resistance at 1.0900/10. Daily patterns are weaker (bearish “evening star”) and suggest a bias towards the downside after the rally through to the mid-1.09s.

    We think the 1.09 area is a good risk/reward entry point for EUR short positions. Gains through 1.0975/80 would, however, signal scope for more gains."
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