EUR/USD: 1.1000 is a sell towards 2015 lows - Scotiabank

Ross J Burland FXStreet

Analysts at Scotiabank explained that upside risks extend to the low EUR/USD 1.10 area only, we expect, which is likely to attract renewed selling interest.

Key Quotes:

"Broader price patterns are negative (break under 2016 consolidation range base near 1.12) and trend strength oscillators are aligned bearishly across a range of timeframes, suggesting limited and only short-lived scope for the EUR to mount counter-trend rallies."

"We target a near-term drop to test 1.0915 support and look for a test of the 2015 low (1.0464) below there."

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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