EUR/USD to push on to the low 1.09 area on gains through the 40-DMA at 1.0857 – Scotiabank

Market news

15 June 2023

EUR/USD to push on to the low 1.09 area on gains through the 40-DMA at 1.0857 – Scotiabank

EUR/USD retains a firm undertone ahead of the ECB policy decision. Economists at Scotiabank analyze the pair’s outlook.

40-DMA emains an important bellwether for the EUR/USD rebound

The EUR/USD pair might be overshooting spreads to some extent in the short run but the trend higher in spot looks well-established and the EUR is likely to remain supported on dips.

Gains through the 40-DMA (1.0857 today) should see spot push on to the low 1.09 area and put a return to 1.10+ on the radar.

Currencies. Daily history for Thursday, June 15, 2023

Commodities. Daily history for Wednesday, June 14, 2023

Market Focus

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer

Open Demo Account & Personal Page

Personal area

support@teletradepartners.com

Risk Warning: Trading in the financial markets (including trading on margin) provides a wide range of opportunities and enables investors ready to take risks to make high profits, but it carries a potentially high level of risk of loss. Therefore, prior to trading you should take into careful consideration whether such operations are suitable for you in terms of your level of knowledge and financial situation.