EUR/USD: Gains to extend to the 1.1000/50 range shortly – Scotiabank

EUR/USD rebounds. Economists at Scotiabank expect the world’s most popular currency pair to enjoy further gains toward the 1.1000/50 region.

The technical odds favour gains

“There is solid support for the EUR in the sub-1.08 range but the EUR is clearly having trouble extending gains through the upper 1.08s. This is the fourth time the EUR has failed to advance beyond 1.0875 since last Thursday.”

“The technical odds favour gains amid a strong upwards trend and bullish trend momentum.”

“I think EUR gains to extend to the 1.1000/50 range shortly.”