- Analytics
- News and Tools
- Market News
- EUR/USD keeps pointing to further rangebound – UOB
EUR/USD keeps pointing to further rangebound – UOB
FXStreet reports that FX Strategists at UOB Group suggested EUR/USD should remain side-lined in the next weeks.
24-hour view: "We expected EUR to 'trade sideways between 1.0830 and 1.0900' yesterday. EUR subsequently dipped to 1.0817 before snapping back up to 1.0880. While the current movement is still viewed as part of a consolidation phase, the underlying tone has firmed somewhat and the risk from here is tilted to the upside. That said, any advance is expected to face solid resistance at 1.0900 (next resistance is at 1.0925). Support is at 1.0840 but only a move below 1.0815 would indicate the current mild upward pressure has eased."
Next 1-3 weeks: "EUR traded in a relatively quiet manner over the past few days and the price actions offer no fresh clues. We continue to hold same view from last Thursday (16 Apr, spot at 1.0890) wherein 'the outlook is mixed' and EUR could 'continue to trade in an undecided manner within a broad 1.0750/1.1000 range for a period'."
© 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
