- Analytics
- News and Tools
- Market News
- EUR/USD: Negative phase stays well on the cards – UOB
EUR/USD: Negative phase stays well on the cards – UOB
EUR/USD: Negative phase stays well on the cards – UOB
FXStreet reports that according to FX Strategists at UOB Group, the bearish note in EUR/USD remains unaltered for the time being.
24-hour view: “EUR traded between 1.0820 and 1.0850 yesterday, narrower than our expected sideway-trading range of 1.0820/1.0860. The price action is viewed as an on-going consolidation phase and further sideway-trading would not be surprising. Expected range for today, 1.0820/1.0860.”
Next 1-3 weeks: “EUR eked out a fresh ‘lower low’ of 1.0826 last Friday before closing at 1.0830 (-0.09%). While the weak phase that started more than a week is still intact, the combination of waning momentum and oversold conditions suggest that a bottom may not be far away. As highlighted early last Friday (14 Feb, spot at 1.0840), while a dip below 1.0810 (we first indicated this level last Monday) would not be surprising, the next support at 1.0770 could be out of reach. On the upside, a move above 1.0890 (‘strong resistance’ was at 1.0910 last Friday) would indicate the current weakness in EUR has run its course.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
