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Analysts at Scotiabank argue that EUR/USD short-term technicals are  bullish.

Key Quotes:

“Short-term trend dynamics look positive for the EUR still, with gains have developed since the middle of Aug well-supported by trend support (1.1624) and bullish trend momentum on the 1-, 6-hour and daily charts.”

“Price signals are constructive on the weekly charts. This suggests a good chance that EUR gains can extend towards the 1.1790/00 area (Jul range highs) in the near-term at least.”