EUR/USD: MOVING TOWARDS 1.1040 – UOB GROUP
The Euro (EUR) is expected to trade in a range between 1.1040 and 1.1200, UOB Group analysts Quek Ser Leang and Lee Sue Ann note.
Rangebound in the 1.1040/1.1200 range
24-HOUR VIEW: "Our expectation for EUR to edge above 1.1200 yesterday was incorrect, as it fell sharply, closing lower by 0.57% (1.1120), its biggest 1- day drop in 2-1/2 months. The sharp and swift drop seems to be overextended, but there is room for EUR to decline further to 1.1095 before stabilisation is likely. The major support at 1.1040 is unlikely to come under threat. Resistance is at 1.1145, followed by 1.1165.”
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.