1 Mar 2016
EUR/USD neutral/bearish near-term – Scotiabank
Shaun Osborne, Chief FX Strategist at Scotiabank, noted the pair’s stance remains neutral/bearish in the short-term.
Key Quotes
“The EUR made a marginal new low for the move down in European trade but short-term price action suggests a fairly strong rejection of new lows on the hourly chart”.
“This may mean some scope for an intraday rebound but we think prospects for gains remain fairly limited (barring a quick move back to 1.09+)”.
“Short-term trend momentum signals remain bearishly aligned, implying a fairly strong trend lower remains in place on the short-term charts. We favour selling rallies intraday while EURUSD remains below 1.0915”.
Key Quotes
“The EUR made a marginal new low for the move down in European trade but short-term price action suggests a fairly strong rejection of new lows on the hourly chart”.
“This may mean some scope for an intraday rebound but we think prospects for gains remain fairly limited (barring a quick move back to 1.09+)”.
“Short-term trend momentum signals remain bearishly aligned, implying a fairly strong trend lower remains in place on the short-term charts. We favour selling rallies intraday while EURUSD remains below 1.0915”.