Wednesday, October 7, 2015

EUR/USD: bearish with lower MA's cluster as target - Scotiabank

FXStreet (Guatemala) - Eric Theoret, CFA, CMT FX Strategist at Scotiabank explained that EUR/USD short-term technicals are bearish-neutral.

Key Quotes:

"Momentum signals are close to neutral and trend signals are remarkably muted. Recent gains have been remarkably short-lived, hinting to limited potential for sustained strength from current levels. We await a break of the medium-term MA’s (50, 100, 200) clustered between 1.1141 and 1.1179 and look for a decline toward the September lows around 1.1100."
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