FX Strategists at Scotiabank noted the pair’s upside momentum could reach the 1.1580 region. Key Quotes “EUR is extending its recent recovery, testing fresh two week highs and threatening 1.15 in the aftermath of the U.S. midterm elections. Fundamental releases are delivering added support. Germany’s industrial production figures were stronger than expected and followed Tuesday’s solid factory orders and PMI releases. ECB rate expectations are recovering modestly and German-U.S. yield spreads are narrowing modestly. The Italian government has also won a confidence vote in the Senate and BTPs have fully retraced Tuesday’s decline. Risk reversals suggest a continued fade in the premium for protection against EUR weakness vs. both the USD and JPY. The one week risk reversal is even pricing a small premium for protection against EUR strength”. “Momentum indicators are now firmly in bullish territory and the DMI’s appear poised to confirm. Near-term resistance appears limited between the psychologically important 1.15 level and the 50 day MA at 1.1553. We anticipate additional gains toward 1.1580. Support is now expected between 1.1400 and 1.1380″. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD Technical Analysis: Euro finds support at 1.470 level as new bulls join the up move FX Street 4 years FX Strategists at Scotiabank noted the pair's upside momentum could reach the 1.1580 region. Key Quotes "EUR is extending its recent recovery, testing fresh two week highs and threatening 1.15 in the aftermath of the U.S. midterm elections. Fundamental releases are delivering added support. Germany's industrial production figures were stronger than expected and followed Tuesday's solid factory orders and PMI releases. ECB rate expectations are recovering modestly and German-U.S. yield spreads are narrowing modestly. The Italian government has also won a confidence vote in the Senate and BTPs have fully retraced Tuesday's decline. Risk reversals suggest a continued fade in… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
