EUR/USD: Close below 1.10 to stand out as a clear bearish signal – Scotiabank

FXStreet Insights Team FXStreet

EUR/USD has swung around the 1.10 mark for the better part of the past four days. Economists at Scotiabank note that a close below this level would stand out as a clear bearish signal for the euro.

Support is around the 1.10 figure area followed by 1.0960/65

“A close below 1.10 for the week would stand out as a clear bearish signal for the EUR.”

“The EUR’s bearish trendline from mid-Feb comes in as resistance at ~1.1050, with the mid-figure area broadly set to limit upside followed by 1.1070 and the 1.11 zone.” “Support is around the 1.10 figure area followed by ~1.0960/65 that has held up the EUR in three consecutive sessions; ~1.0950 and ~1.0925 follow.”

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 stays positive near 1.3450 after UK jobs data

GBP/USD recovers ground and tests 1.3450 in early Europe on Tuesday. The UK ILO Unemployment Rate remained at 4.9% in the three months to May, compared with expectations of 5%, but fails to provide any impetus to the British Pound's renewed uptick. Traders stay cautious amid US-Iran uncertainty and the UK political transition.

EUR/USD steadies above 1.1400, awaits German ZEW Survey

EUR/USD is consolidating above the 1.1400 mark in European trading on Tuesday. The pair lacks any directional impetus amid a subdued US Dollar price action and ahead of the German ZEW Survey.

Gold: Acceptance above 21-day SMA at $4,065 is critical for buyers

Gold is building on its recovery from two-week lows of $4,024 reached last Friday, extending the winning streak into a third straight day on Tuesday. XAU/USD is capitalizing on the ongoing pullback in Oil prices from monthly highs near $84.50. The black gold is retreating for a second day in a row on emerging signs of diplomatic efforts to ease the US-Iran conflict.

Shiba Inu price extends gains as on-chain and derivatives metrics confirm bullish bias

Shiba Inu extends gains, trading above $0.0000042 after breaking above the descending trendline the previous day. Strengthening on-chain data and improving derivatives metrics support further gains for the meme coin. CryptoQuant’s exchange netflow chart below shows five consecutive days of net outflows since July 17.

Brent nears a critical crossroads as the global economy faces one too

Markets spent last Friday digesting a Reuters report that Iran has told the Houthis to stand ready to close Bab el-Mandeb if the US strikes Iranian power infrastructure — missiles and drones are reportedly already positioned near the strait, awaiting the order from IRGC officers in Yemen.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.