EUR/USD rises. Shaun Osborne, Chief Currency Strategist at Scotiabankexpect the pair to continue advancing.
EUR/USD will continue to have support in moderate falls
“EUR/USD is trading a bit higher overall on the session, but short-term price action suggests that gains are a bit tough and drawing some selling pressure on modest gains.”
“The broader Euro uptrend has lost a bit of momentum, but the bullish alignment of trend oscillators across short-, medium-, and long-term DMI studies suggest (to me) that the uptrend still has room to go and EUR will remain supported on modest dips (to the mid/upper 1.08 zone).”
“Resistance at 1.0970/75, but a jump above 1.1000 is still the target (minimum) for this move higher“.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
