EUR/USD to plummet into the 1.11s on a break below 1.14 – Scotiabank

FXStreet Insights Team FXStreet

EUR/USD seems to have gone into a consolidation phase. Still, economists at Scotiabank think a breach of 1.15 is only a matter of time with a test of 1.14 following relatively quickly.

EUR/USD at risk of falling below 1.15

“The EUR/USD traded narrowly in a <30pips range with decent support in the 1.1550 zone on dips while the 1.1575 area stands as resistance.”

“The EUR’s steep swings over the past two weeks have left it a clear risk of a test – and cross – of 1.15 amid continued downward pressure since late-May. A cross under the figure sees limited support until 1.1422 and the 1.14 area and then losses could quickly extend into the 1.11s.”

“The 1.16 zone is resistance followed by the mid-figure area that stands as downtrend resistance.”

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.

EUR/USD remains offered near 1.1950

EUR/USD comes under pressure near the 1.1950 zone following the closing bell on Wall Street on Wednesday. The Greenback’s rebound prompted spot to face some correction while investors continue to assess the latest FOMC event. On Thursday, the focus of attention will be on the weekly US labour market data and Factory Orders.

GBP/USD hesitates at four-year highs following lackluster Fed rate hold

GBP/USD churned in place on Tuesday, hitting a brief patch of volatility but otherwise holding steady near four-year highs as the US Dollar struggles to find its footing. The Federal Reserve held interest rates steady, as many investors broadly anticipated, but the Fed’s rate statement and Fed Chair Jerome Powell both failed to give any hints about potential shifts toward future rate cuts, which many investors broadly hoped.

Gold pulls back after testing $5,600 for first time on record

Gold price refreshed record highs near $5,600 before retreating to near $5,525 in Asian trading on Thursday. The bright metal's relentless upsurge has been bolstered by strong safe-haven demand amidst persistent geopolitical tensions, economic uncertainty, and a weaker US Dollar.

Fidelity unveils FIDD stablecoin, set to launch in coming weeks

Fidelity Investments announced that it will launch its first stablecoin, the Fidelity Digital Dollar, making it one of the first large traditional firms in the US to do so. The company will leverage the Ethereum blockchain to roll out the product to retail and institutional investors in the coming weeks, according to a press release on Wednesday.

Federal Reserve pauses, sees economy on firm footing

At its January meeting, the Federal Reserve kept the Fed Funds Target Range (FFTR) unchanged at 3.50%–3.75%, a decision that was fully in line with market expectations.

Bittensor Price Forecast: TAO rallies above $240 as AI tokens rebound

Bittensor reclaims $240 immediate support, reflecting positive sentiment in the broader crypto market. The TAO derivatives market signals retail interest return as futures Open Interest climbs to $163 million.