Scotiabank: euro / dollar will continue to cheaper The foreign exchange market

We adhere to neutral-bearish views on the euro / dollar for the near future. As it turned out, next week at the Jackson Hole summit, Mario Draghi is not going to announce a change in the policy of the ECB monetary policy, and the profit differential of 10-year American and German bonds remains above 1.80%.
Daytime momentum indicators are about to drop into the bearish territory, and the DMI indicators have converged. The 9-day MA seems to fall below the 21-day MA, forming a bearish cross. The closest support is $ 1.1650, $ 1.1620 and $ 1.1500.

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