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#1 03-10-2018 21:57:33

johnedward
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From: Paris - France
Registered: 21-12-2009
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EUR/USD: the euro could experience a consolidation phase on the forex

EUR/USD: the euro could experience a consolidation phase on the forex (Scotiabank)


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Scotiabank believes that the EUR/USD will likely consolidate between 1.1500 and 1.1620 for the time being.

"The EUR/USD has stabilised right above 1.15. This rebound mitigates immediate downward pressures but does not alter the downward bias.

Trend indicators are negative on intraday and daily charts, but are not aligned in a way that lends itself to a strong conviction regarding immediate direction.

Instead, we anticipate an irregular evolution at first.

We see support at 1.1500/05 and resistance at 1.1600/20.
"


"Anything worth having is worth going for - all the way." - J.R. Ewing

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