EUR/USD outlook shifted to neutral/bearish – Scotiabank

Pablo Piovano FXStreet

Shaun Osborne, Chief FX Strategist at Scotiabank, noted the pair’s stance has now shifted to neutral/bearish in the near term.

Key Quotes

“Spot is mid-way between the past week’s range high and low this morning, reflecting market caution on the broader direction of the EUR”.

“EURUSD gains through 1.09 on a weekly close basis will confer a lot more technical resilience on the EUR we feel but there are some signs of potential softness on the daily chart which suggest a potential top building around this week’s 1.0950 high”.

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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