EUR/USD: A pause and correction in the rally may be appropriate – Scotiabank EURUSD Banks
extend through the low 1.09s before slipping back. Economists at Scotiabank believe that a pause and correction in the rally is due out.“Broader EUR gains look solid and well supported by bullish-leaning trend oscillators. But intraday price action looks weak and warns of a squeeze higher in the USD.”“Spot has gained relentlessly from last week’s low just above 1.05 so a pause and correction in the rally may be appropriate.
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