EUR/USD: Bullish trend eyes 1.20 barrier – Scotiabank

FXStreet Insights Team FXStreet

Scotiabank analysts Shaun Osborne and Eric Theoret note the Euro is stabilizing after a minor NFP-driven setback, with improving yield spreads and recovering correlations pointing back to fundamentals. The broader technical trend since February 2025 remains bullish, with resistance seen just above 1.19 and little meaningful resistance before 1.20, while near-term trading is expected between 1.1850 and 1.1950.

Euro supported by spreads and techs

"The EUR is entering Thursday’s NA session with a fractional gain and showing signs of stabilization following Wednesday’s minor NFP(US jobs)-driven tumble."

"Fundamentally, yield spreads are extending their latest recovery and climbing back to the multi-year high reached in late Dec/early Jan."

"Spread correlations are also recovering, suggesting a return to fundamentally driven movement."

"EURUSD short-term technicals: Bullish—the overall technical picture remains bullish given the trend from February 2025."

"Recent gains appear to have stalled above 1.19, around 1.1920, however we see no meaningful resistance ahead of the psychologically important 1.20 level."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

GBP/USD trims gains; back to 1.3450-ish

The persistent weakness hurting the Greenback lends support to the British Pound and the rest of the risk-linked assets, sending GBP/USD to new two-day tops past 1.3480 on Wednesday. Indeed, Cable advances for the second day in a row helped by the constant optimism around a potential US-Iran deal.

EUR/USD hovers around two-month peaks near 1.1560

EUR/USD advances for the second day in a row, challenging multi-week highs in the 1.1560 zone on Wednesday. The persistent weakness hitting the US Dollar underpins the move higher in spot while market participants continue to closely follow developments from the Middle East and gear up for upcoming key data releases in the US jobs market. On Thursday, all the attention will be on the release of weekly Claims alongside Challenger Job Cuts.

How Wall Street rigs the game [Video]

In this week’s Live from the Vault, Andrew Maguire is joined by Peter Antico and Sean Stone to discuss the Paradigm of Money - an in-depth expose of financial market corruption, from naked shorting to the two-tier system that protects Wall Street.

Bitcoin stalls despite strong market activity across traditional assets

Bitcoin (BTC) remained subdued while stocks edged higher and gold lower, suggesting the market is trapped between weakening institutional demand and growing signs of seller exhaustion, according to a Glassnode report on Wednesday.

Why the WTI sell-off may be hiding a supply warning

Prices for the barrel of the American Oil benchmark have fallen sharply as hopes of a US-Iran agreement have resurfaced, but a deeply backwardated Oil curve, tight Cushing stocks and light speculative positioning all warn that the sell-off may have gone too far.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.