EUR/USD: move to 1.1100 complete, turning bearish - Scotiabank

Analysts at Scotiabank explained that they have been anticipating a push to a 1.11 handle for the EUR in the past few days and that move now looks complete.

Key Quotes:

"Short-term trends are turning more obviously bearish for EURUSD now."

"Intraday signals suggest a top is forming on the short-term charts and, with this reversal in price action coinciding with key levels on the longer term charts (50% retracement resistance of the 1.1365/1.0852 decline/retest of weekly support – now resistance – broken in early October) we are turning bearish."