EUR/USD consolidates around the 1.09 area. Economists at Scotiabank analyze the pair’s outlook.
A period of consolidation is likely for the EUR but spot is likely to remain well-supported on moderate dips and the broader EUR tone is set to remain positive amid bullishly aligned trend strength signals.
Grinding gains could develop from the 1.09 area to retest 1.10 this week.
See: EUR/USD stands a chance to end the year above 1.10 – ING
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