EUR/USD bearish near-term – Scotiabank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FX Chief Strategist at Scotiabank Shaun Osborne noted the bearish outlook on the pair in the short-term.

    Key Quotes

    “Intraday price action looks bearish. EURUSD dropped sharply in European trade and may have further to fall in the near-term, according to the charts”.

    “Hourly patterns have carved out a rough Head & Shoulders top over the past two days and weakness below the 1.1135 neckline this morning has triggered the signal; the measured move targets 1.0980 over the next 1-2 days”.

    “Look for resistance now in the low/mid 1.11s”.
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