EUR/USD short-term bias remains bearish – Scotiabank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 6, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    In view of Shaun Osborne, Chief FX Strategist at Scotiabank, the pair’s outlook remains in the bearish camp in the near-term.

    Key Quotes

    “We continue to feel that EURUSD set a short-term peak/reversal at 1.1435; soft price action tends to support that view but, so far, the market has been reluctant to push the EUR decisively below the 1.1350 area”.

    “We see support at 1.1330/40 intraday and think that short-term momentum has shifted enough to put support under a little more obvious pressure today”.

    “A break lower would point the market in the direction of a drop to the 1.1150/1.12 area near-term, we think”.
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