EUR/USD looks bullish near-term – Scotiabank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 30, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    Shaun Osborne, Chief FX Strategist at Scotiabank, noted the bullish perspective for the pair in the short-term horizon.

    Key Quotes

    “We’ve misread the short-term charts in EURUSD in recent days; gains through the low/mid 1.12s set the market up for a full retracement of the move down from 1.1340 last week, which has been more or less achieved now”.

    “Support intraday is 1.1280. Spot is bumping up against 5-month trend resistance at 1.1325 as our session gets underway; a break higher will open up to the topside for a push towards 1.16/1.17”.
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