19 Aug 2015
EUR/USD faces upside pressure near term – Scotiabank
FXStreet (Edinburgh) - Currency Strategist at Scotiabank Eric Theoret sees the likeliness of the pair squeezing higher in the very near term.
Key Quotes
“Germany’s parliamentary approval of the Greek bailout has provided for some near term stabilization in EUR, shifting the focus to U.S. events and releases through the NA session. We see near term EUR risk as being balanced to the upside”.
“Potential formation of a hammer candle hints to upside risk with momentum indicators neutral and trend signals muted”.
“Short term MA’s provide important near term risk levels, with support expected at the 21 day MA (1.1009) as EUR flirts with a break above the 9 day MA (1.1065)”.
Key Quotes
“Germany’s parliamentary approval of the Greek bailout has provided for some near term stabilization in EUR, shifting the focus to U.S. events and releases through the NA session. We see near term EUR risk as being balanced to the upside”.
“Potential formation of a hammer candle hints to upside risk with momentum indicators neutral and trend signals muted”.
“Short term MA’s provide important near term risk levels, with support expected at the 21 day MA (1.1009) as EUR flirts with a break above the 9 day MA (1.1065)”.