EUR/USD ranges, bear are nervous - Scotiabank

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explained they expect EUR to be comfortable range trading between 1.35 and 1.37 until there is a catalyst to force it lower.



Key Quotes:



“This week, inflation, trade and ECB commentary by President Draghi, Coeure and Noyer will prove the highlights. The CFTC EUR position stabilized this week at a net short of ‐$10bn, the failure for it to build further is a warning signal that bears are once again growing nervous."



"EUR/USD short‐term technicals: mixed—with most signals and spot suggesting EUR is range bound, likely between 1.35 and 1.37. Near term support lies at the recent 1.3576 low; while resistance comes in at the 200‐day MA at 1.3678."



“We hold a year‐end forecast of 1.30."



You May Also Like

Related Forex Analysis
  1. Forex News

    Euro Flounders at Yearly Lows as Likelihood of ECB QE Increases

  2. Forex News

    Weekly Trading Forecast: How Far can the Dollar Go in 2014?

  3. Forex News

    US session recap: USD index and stocks rally for record highs

  4. Forex News

    US Dollar Targets Fresh Highs versus Euro, but What Could Change?

  5. Forex News

    A calm and holy night or a snowstorm of volatility? – ING

Trading Center