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18 Mar 2015
EUR/USD stance remains bearish – Scotiabank
FXStreet (Edinburgh) - Eric Theoret, Currency Strategist at Scotiabank, keeps its negative outlook for the single currency.
Key Quotes
“The risk remains tilted to further downside given the overall path of policy divergence between the Fed and ECB”.
“Fundamental releases have been mixed, with a disappointing trade balance offset by improvement in construction output”.
“Oversold momentum indicators continue to soften, with the RSI well off its recent low near 15”.
“We continue to wait for a close above Friday’s open at 1.0635 and focus on the potential for a near test of the 9 day MA at 1.0651”.
“A renewed downswing would quickly shift the focus back to the 1.0458 low”.
Key Quotes
“The risk remains tilted to further downside given the overall path of policy divergence between the Fed and ECB”.
“Fundamental releases have been mixed, with a disappointing trade balance offset by improvement in construction output”.
“Oversold momentum indicators continue to soften, with the RSI well off its recent low near 15”.
“We continue to wait for a close above Friday’s open at 1.0635 and focus on the potential for a near test of the 9 day MA at 1.0651”.
“A renewed downswing would quickly shift the focus back to the 1.0458 low”.