EUR/USD (Scotiabank) : The medium-term trend of the Euro remains tilted to the downside

Scotiabank notes that EUR/USD remains

«EUR/USD has shown signs of stabilizing, with a modest recovery from the low of Friday.

The congestion is centered around 1.1650, just below the moving average 100 days to 1.1692.

The medium-term trend remains bearish, with a sequence of hollow lower and tops lowest since the September summit. The momentum indicators have confirmed this. «

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