EUR/USD remains neutral near term – Scotiabank

Pablo Piovano FXStreet

Chief FX Strategist at Scotiabank Shaun Osborne noted the outlook on the pair remains on the neutral side in the short term.

Key Quotes

“EURUSD gains overnight were easily capped just ahead of 1.07 but slippage has stalled in the low 1.06 area as North American trade picks up”.

“Technically, the short-term trend higher remains intact but it is not especially well supported by oscillator signals (neutral, at best, tracking bearish at worst) and the cap on the market around 1.07 (the initial retracement resistance of the late 2016 sell-off) suggests the bounce may be in trouble”.

“Intraday, we think losses will pick up below 1.06; above 1.07 will suggest a stronger tone for the EUR into next week or beyond”.

	TREND INDEX	OB/OS INDEX	VOLATILY INDEX
15M	Slightly Bullish	Neutral	Low
1H	Bearish	Neutral	Low
4H	Bullish	Neutral	Shrinking
1D	Bearish	Neutral	High
1W	Strongly Bearish	Neutral	High
Updated Jan 19, 12:45 GMT

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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