EUR/USD: bearish outlook across all time frames - Scotiabank

Analysts at Scotiabank argued that the short, medium and long-term technical picture for EURUSD is negative.

Key Quotes:

"The market is fractions away from setting a new cycle low (below 1.0367) which would serve to solidify the short-term trend lower after yesterday’s stall and reversal in the upper 1.04s."

"Our longer-term technical work targets a drop to 1.0074 (long-term retracement) and strongly suggests EURUSD risks easing to 0.95 in the next few months."

"Trend strength oscillators are bearish across the board, making minor EUR rebounds a sell. We spot short-term resistance at 1.0390/1.0410."