Trade The World
EUR consolidates in 1.16-1.17 range for now – Scotiabank
By FXStreet Insights Team
Date Published: 8 Aug 2025 | Date Modified: 8 Aug 2025
POPULAR ARTICLES
The Euro (EUR) is trading a little lower overall on the day but is holding a net gain on the week, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
The Euro (EUR) is trading a little lower overall on the day but is holding a net gain on the week, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
EUR drifts on the daily chart
"Markets may need a new impulse to extend EUR gains through the 1.17 peak reached this week and put the 1.18 zone within reach in the short run. Looking ahead, pressure on the Fed for easier monetary policy will weigh on the USD and prompt some additional narrowing in EZ/US spreads. Diversification away from the USD will add to bullish EUR momentum in the medium term."
"Spot is consolidating in a 1.16/1.17 range for the moment. Yesterday’s price action set a 'doji' candle on the daily chart which may indicate that EUR gains have stalled for now but positive trend momentum signals suggest limited scope for EUR losses to extend. Key support is 1.1590/00."
FXStreet
More than a million users rely on FXStreet for real-time market data, charting tools, expert insights, and forex news. Its comprehensive economic calendar and educational webinars help traders stay informed and make calculated decisions. FXStreet is supported by a team of about 60 professionals, split between the Barcelona headquarters and various global regions.
Read More
