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ForexMedium•13 February 2026•

1 min read

Scotiabank Forecasts EUR/USD Breakout Above 1.20 Amid Improving Sentiment

Two central bankers, Christine Lagarde and Thomas Jordan, with EU and Swiss flags, Euro and Swiss Franc symbols, and coins.

Scotiabank analysts anticipate a significant bullish trend for the EUR/USD pair, targeting a breakout above the 1.20 psychological barrier. The Euro is currently stabilizing following a minor setback triggered by recent non-farm payrolls (NFP) data from the United States. According to analysts Shaun Osborne and Eric Theoret, improving yield spreads are providing crucial support for the currency's recovery and upward momentum. Market sentiment in the options space has also shifted, with pricing now favoring protection for the Euro's upside potential. This alignment of technical targets and fundamental indicators suggests a robust case for further gains in the G10 currency pair. Investors are closely monitoring these developments as the pair attempts to reclaim key resistance levels in the near term.