Scotiabank recommends purchases of EUR/USD below 1.1100

Scotiabank recommends purchases of EUR/USD below 1.1100

Their vision relies on several factors:

  • Improving economic data for the euro area
  • The ECB is inactive, giving no indication that there will be additional incentives
  • The fair price is around 1.14
  • Strong support area is 1.1065 – 1.1090
  • Short term resistance – 1.1145

 Trader Martin Nikolov

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