EUR recovers from sub-1.13 dip in quiet labour day trade – Scotiabank
|Euro (EUR) is entering Thursday’s NA session unchanged from Wednesday’s close, finding modest support following a short-lived dip below 1.1300, Scotiabank's Chief FX Strategist Shaun Osborne notes.
EUR/USD’s trend remains bullish
"The euro area data calendar is empty and most major European countries are closed for Labour Day, which should allow the EUR to trade on broader market themes ahead of Friday’s preliminary CPI release. The ECB will also release an economic bulletin on Friday, offering the possibility of some analysis of global trade and risks related to tariffs."
"EUR/USD’s trend remains bullish despite the last couple of weeks of consolidation around 1.14. The RSI is bullish but drifting below 60 and hinting to a loss of momentum. The 1.1350 congestion level offers support below 1.1300 and resistance above 1.1500."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.