EUR/USD: There seems just as little interest in chasing the Euro higher – Scotiabank
|EUR/USD holds range around 1.0900 in quiet trade. Economists at Scotiabank analyze the pair’s outlook.
The market undertone remains soft
Spot looked vulnerable to more downside movement earlier in the week as the market (twice) tested the mid-1.0800 area but the lack of follow through selling pressure has averted more EUR losses for now, at least. The market undertone remains soft, however, with short-term trend oscillators and longer run price signal leaning EUR-negative.
EUR gains through 1.0910/1.0920 might give the market a short-term lift but there seems just as little interest in chasing the EUR higher as there was to lean on the downside earlier this week.
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.