EUR/USD: headed to 1.05 handle in next few months - Scotiabank

In respect of EUR/USD, analysts at Scotiabank said, that overall, the obvious confluence of neutral trend indicators and range-trading signals suggest that the near-term range trade around 1.12 will persist a little longer.

Key Quotes:

"However, bearish weekly price signals and strong, overhead resistance at 1.1275 keeps the balanced of directional risks tilted to the downside from a medium-term
perspective and technical evidence suggests fading EURUSD rallies is the appropriate strategy.

Given that EUR/USD peaked near the upper end of the sideways range in place since early 2015 through the middle of this year, we expect a retest of the low end of the trading range (1.05) in the next few months."