27 Jul 2015
EUR/USD tilted to further upside – Scotiabank
FXStreet (Edinburgh) -Eric Theoret, Currency Strategist at Scotiabank, believes the upside in the pair has still more room to go.
Key Quotes
“EUR gains have provided for a material break of the 100 day MA, pushing it to a fresh two-week high”.
“The near-term balance of risk for EUR is likely biased to further strength, as we consider the potential for a narrowing in relative policy expectations between the ECB and Fed”.
“Momentum signals are biased to further upside, and we note the material break of recent resistance around the 100 day MA (1.1005)”.
“EUR has tested further resistance at the 50 day MA (1.1104), presenting a near term challenge ahead of 1.1200—a level coinciding with the upper end of its recent triangular consolidation”.
Key Quotes
“EUR gains have provided for a material break of the 100 day MA, pushing it to a fresh two-week high”.
“The near-term balance of risk for EUR is likely biased to further strength, as we consider the potential for a narrowing in relative policy expectations between the ECB and Fed”.
“Momentum signals are biased to further upside, and we note the material break of recent resistance around the 100 day MA (1.1005)”.
“EUR has tested further resistance at the 50 day MA (1.1104), presenting a near term challenge ahead of 1.1200—a level coinciding with the upper end of its recent triangular consolidation”.