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EUR/USD: top reversal formed? - Scotiabank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Analysts at Scotiabank explained that slowly but surely, technical pressure is starting to accumulate on the EUR.

    Key Quotes:

    "The 1.14/1.15 range has been the top for the EUR over the past year and Friday’s close was a poor one for the EUR on the week, suggesting an important top/reversal had formed on the longer-term charts.

    We see strong resistance at 1.1450/60 now. Weakness below 1.1245/50 this week should add to pressure on the EUR."
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