Scotiabank: after consolidation, the euro / dollar will continue to rise

After a strong growth in spring and summer, the euro / dollar entered the consolidation phase, so for the foreseeable future, we maintain a neutral outlook on it. The larger picture of the pair looks bullish, and we are considering a break above $ 1.16- $ 1.17 as a serious reserve for further growth in the future. In the meantime (after rising from the April lows), the euro / dollar looks somewhat overbought, so chaotic trading in the range of $ 1.17- $ 1.1850 is very likely in the near term.

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