EUR/USD: Trend and tone are bullish – Scotiabank

EUR/USD extends gains through 1.09. Economists at Scotiabank analyze the pair’s outlook.

Undertone remains bullish

Minor new cycle highs for the EURU/USD pair, testing the late August highs for spot – are keeping the EUR trend and tone bullish. 

Trend strength signals are aligning bullishly for the Euro, keeping the pair on track for a push to 1.0961 (61.8% retracement of the EUR’s H2 drop). 

Minor dips (to the mid/upper 1.08s) are likely to remain well-supported amid solid bull trend momentum.

See – EUR/USD: Good resistance at 1.0950/1.0960 this week – ING