EUR/USD still bearish near-term – Scotiabank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 20, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    Chief FX Strategist at Scotiabank Shaun Osborne has reiterated the negative outlook on the pair in the short-term.

    Key Quotes

    EURUSD has moved sideways overnight and remains capped in the upper 1.13s”.

    “We continue to characterize the technical backdrop here as bearish because of the weak close for the market last Friday, which essentially put the seal on a broader, medium-term bear reversal in EURUSD”.

    “We think technical factors suggests EURUSD upside prospects are limited from here and that downside risks are rising”.
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