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11 Mar 2014
Flash: EUR/USD technicals are bullish - Scotiabank
FXStreet (Guatemala) - Eric Theoret, Currency Strategist at Scotiabank noted that the EUR is flat from Friday’s close.
Key Quotes:
“…Consolidating as market participants assess the impact of ongoing geopolitical risk and the relative outlook for growth in light of the US employ-ment release”.
“This week’s release schedule is relatively quiet, however for Monday headline risk revolves around the euro area finance ministers’ meeting as officials are set to discuss the bank resolution mechanism. Industrial production releases have been mixed, providing for little move-ment in EUR given softer figures for France and Spain offset by Italy."”
"EUR/USD short-term technicals: bullish—all indicators are broadly bullish, near term gains appear to be challenged above 1.3900, with support at 1.3850."
Key Quotes:
“…Consolidating as market participants assess the impact of ongoing geopolitical risk and the relative outlook for growth in light of the US employ-ment release”.
“This week’s release schedule is relatively quiet, however for Monday headline risk revolves around the euro area finance ministers’ meeting as officials are set to discuss the bank resolution mechanism. Industrial production releases have been mixed, providing for little move-ment in EUR given softer figures for France and Spain offset by Italy."”
"EUR/USD short-term technicals: bullish—all indicators are broadly bullish, near term gains appear to be challenged above 1.3900, with support at 1.3850."