EUR/USD remaining with a downside bias- Scotiabank

By FXstreet.com | June 17, 2014 AAA

FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explained that EUR/USD has a downside bias— Expect week’s range to fall within 1.3477 and 1.3602.



Key Quotes:



"After trading briefly to a one week high, EUR is soft entering the NA session, as the ZEW (investor sentiment) outlook component dropped unexpectedly to a one year low."



"EUR/USD short‐term technicals: mixed—technicals are mixed with most signals warning of a range bound environment. Support lies at yesterday’s low of 1.3513, while resistance lies at the high from June 10th of 1.3602."



comments powered by Disqus
Related Forex Analysis
  1. Trading Video: Gauging the Dominant Dollar, Yen and S&P 500 Trends
    Forex News

    Trading Video: Gauging the Dominant Dollar, Yen and S&P 500 Trends

  2. Strategy Video: The Process of Trend Reversals
    Forex News

    Strategy Video: The Process of Trend Reversals

  3. Session Recap: JPY retreats as risk appetite improves
    Forex News

    Session Recap: JPY retreats as risk appetite improves

  4. Russia Announces FX Repo: USD/RUB Finds Support in Bullish Channel
    Forex News

    Russia Announces FX Repo: USD/RUB Finds Support in Bullish Channel

  5. NZDUSD Next Leg Lower Around the Corner?
    Forex News

    NZDUSD Next Leg Lower Around the Corner?

Trading Center