The Euro (EUR) is expected to trade in a range in the short run, likely between 1.0855 and 1.0905. In the longer run, EUR is expected to continue to rise, but it might take a while before 1.0915 comes into view.
To likely trade between 1.0855 and 1.0905
24-HOUR VIEW: “Last Friday, we expected EUR to trade in a range between 1.0845 and 1.0900. Our expectations were incorrect. Instead of trading in a range, EUR rose to a high of 1.0911. While EUR closed at 1.0906 ( 0.38%), it opened lower in early Sydney trade today. The strong rise over late last week appears to be overstretched, and we continue to expect EUR to trade in a range, likely between 1.0855 and 1.0905.”
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