EUR/USD risk extra losses below 1.0630, according to UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang. Key Quotes 24-hour view:
risk extra losses below 1.0630, according to UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang.24-hour view: We expected EUR to consolidate in a range of 1.0645/1.0695 yesterday. EUR then traded in a range of 1.0653/1.0698 before closing at 1.0690 . The underlying tone has firmed somewhat, and there is room for EUR to edge higher today. However, any advance is unlikely to break the strong resistance at 1.0730. On the downside, if EUR drops below 1.
Next 1-3 weeks: After EUR plummeted to a low of 1.0629, in our latest narrative from last Friday , we highlighted that there had been a sharp increase in downward momentum. We held the view that EUR “has likely resumed its weakness, but it remains to be seen if it can reach March’s low near 1.0515 this time around.” Since then, EUR has not been able to make further headway on the downside. Downward momentum is beginning to wane.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
EUR/USD: There is still room for further weaknessEconomist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group still expect EUR/USD to weaken further in the next few weeks. Key Quotes 24-h
Lire la suite »
EUR/USD Forecast: Further consolidation likely in the near termAfter posting losses for the eighth consecutive week, EUR/USD started the new week in a calm manner and went into a consolidation phase at around mid-
Lire la suite »
EUR/USD may see further softness on a break under 1.0650EUR/USD trades little changed in a tight range. Economists at Scotiabank analyze the pair’s outlook. Technical undertone is weak EUR/USD is consolidat
Lire la suite »
EUR/USD: Outside risk to the 1.04/1.05 area on a break below 1.0610/1.0630 supportEUR/USD continues to trade in a listless fashion. Economists at ING analyze the pair’s outlook. Dip to 1.05 seen as an opportunity to reset hedges ahe
Lire la suite »
EUR/USD consolidates in a range just below 1.0700, eyes Euro Zone CPI for some impetusThe EUR/USD pair struggles to capitalize on its recent recovery gains registered over the past two days and oscillates in a narrow band during the Asi
Lire la suite »
EUR/USD recovers some lost ground near 1.0660, eyes on FOMC meetingThe EUR/USD pair recovers its recent losses after bouncing off the multi-month low of 1.0631 during the early Asian session on Monday. Meanwhile, the
Lire la suite »