EUR/USD is now seen within 1.0390-1.0560 – UOB By pabspiovano EURUSD Currencies Majors Banks
24-hour view: “We expected ‘further EUR strength’ yesterday. However, EUR plummeted to a low of 1.0458. The oversold decline has scope to extend to 1.0440 even though a sustained decline below this level is unlikely. The next support at 1.0390 is unlikely to come into the picture. Resistance is at 1.0500 followed by 1.0530.”
Next 1-3 weeks: “Yesterday , we held the view that the corrective rebound in EUR could extend to 1.0600. We did not expect the subsequent sharp drop to a low of 1.0458 during NY session. While our ‘strong support’ level at 1.0440 is not breached, the build-up in momentum has fizzled out quickly. The sharp but short-lived swings the past couple of days have resulted in a mixed outlook and EUR could trade within a range of 1.0390/1.0560 for now.
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: Diminishing bets for a breakdown of 1.0340 – UOBLee Sue Ann and Quek Ser Leang, FX Strategists at UOB Group, noted that the probability of EUR/USD to break below 1.0340 seems to have lost momentum.
Lire la suite »
Indonesia: FX reserves extended the downside in April – UOBEconomist at UOB Group Enrico Tanuwidjaja reviews the latest FX reserves figures in Indonesia. Key Takeaways “Indonesia’s foreign exchange reserves de
Lire la suite »
USD/THB risks a corrective move near term – UOBQuek Ser Leang at UOB Group’s Global Economics & Markets Research suggested risks around USD/THB seem to be shifting to the downside. Key Quotes “We h
Lire la suite »
EUR/USD: Diminishing bets for a breakdown of 1.0340 – UOBLee Sue Ann and Quek Ser Leang, FX Strategists at UOB Group, noted that the probability of EUR/USD to break below 1.0340 seems to have lost momentum.
Lire la suite »
EUR/USD Forex Signal: Ripe for a Major Bearish BreakoutThe EUR/USD pair declined slightly as concerns about the future of the European economy continued.
Lire la suite »
EUR/USD could climb as high as 1.0550 – INGEUR/USD has enjoyed a short-term reprieve. Economists at ING believe that the world’s most popular currency pair could reach the 1.0550 mark on Tuesda
Lire la suite »