EUR/USD neutral, bullish breakout likely – Scotiabank

Pablo Piovano FXStreet

In light of FX Strategists at Scotiabank, the pair could break above the current consolidative theme.

Key Quotes

“EURUSD is treading water in quiet trade, awaiting a stronger directional impulse. We remain constructive on the overall outlook for the EUR and recall that seasonal trends tend to improve for the EUR from late March/early April”.

“EURUSD continues to idle in a range around 1.2350. Shorter-term trend signals are flat, underscoring the non-directional nature of the trading environment at present. We think the broader set-up favours a bullish resolution to the current range trade but weakness below 1.2350 on the session today may see more drift to the downside in the short run”.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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