EUR/USD still looks vulnerable - Scotiabank

Ross J Burland FXStreet

Analysts at Scotiabank explained that the euro appears vulnerable in the seasonally bearish month of November.

Key Quotes:

"A descending trend channel has formed in the period since early September, and EUR has weakened for two consecutive months. Interest rate differentials are a headwind, and speculative bullish EUR positioning is extended. Sentiment in the options market is neutral across shorter time horizons and modestly bearish beyond six months. We maintain a relatively neutral EUR forecast with a year-end 2017 target of 1.18"

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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