EUR/USD gains modestly. Economists at Scotiabank analyze the pair’s outlook.
Short-term price signals are tilting somewhat positive
Short-term price signals are trending slightly positive but it remains to be seen whether the EUR’s moderately firm undertone can extend into the day.
Friday’s stalling signal (‘doji’ candle) may have been the full stop punctuation point on the EUR’s recent descent; net gains today – the more, the better – would boost EUR recovery chances.
Initial resistance is 1.0920.
