EUR/USD remains in the short term, negative – Scotiabank

FXStreet – Shaun Osborne, chief market analyst at Scotiabank, explained that the perspective for the currency pair in the short term bearish.

Important Quotes:

The currency pair EUR/USD reached yesterday a weak closing price and so it came to an ouside-range session bar in the daily chart and a break of the short-term trend line support (now resistance at 1,0942), which, at least in the short term, a negative soft position implies.

We believe that the open price gap should be filled between 1,0775/1,0825 in the short term, but a weak closing price this week, would increase the risks of a deeper correction.

** FXStreet News Editorial, FXStreet**

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