28 Oct 2013
Flash: EUR/USD short term technical look bullish – Scotiabank
FXstreet.com (Barcelona) - Scotiabank strategists believe that EUR/USD looks bullish in the short term, based on a technical outlook.
Key Quotes
“Near term momentum and trend indicators are bullish. Key resistance level for EUR lies at the 61.8% Fibonacci retracement level of the 2011-12 decline in EUR, which lies at 1.3833.”
“A meaningful break of this level would likely spur continued gains. Meanwhile, a near term pull back would be expected to find support at 1.3681 followed by 1.3550.”
Key Quotes
“Near term momentum and trend indicators are bullish. Key resistance level for EUR lies at the 61.8% Fibonacci retracement level of the 2011-12 decline in EUR, which lies at 1.3833.”
“A meaningful break of this level would likely spur continued gains. Meanwhile, a near term pull back would be expected to find support at 1.3681 followed by 1.3550.”