- EUR/USD: Only limited scope for countertrend corrections – Scotiabank
Market news
6 tháng 11 2023
EUR/USD: Only limited scope for countertrend corrections – Scotiabank
EUR/USD pushes higher to mid-1.07s. Economists at Scotiabank analyze the pair’s outlook.
Minor dips to remain well-supported
Solid gains in the EUR are bringing spot within easy reach of 1.0766, 38.2 % retracement of the H2 slide in the EUR/USD pair.
Short-term gains look a little stretched but bullish momentum suggests only limited scope for countertrend EUR corrections at this point.
EUR/USD dips to the mid/upper 1.06s are likely to remain well-supported.
Resistance is 1.0805 (100- and 200-DMA signals converge there) and 1.0863 (50% retracement).
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 disclaimerOpen Demo Account & Personal Page