- Analytics
- News and Tools
- Market News
- EUR/USD sticks to the consolidative phase so far – UOB
EUR/USD sticks to the consolidative phase so far – UOB
FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang noted EUR/USD is expected to remain within the 1.0100-1.0285 range in the next few weeks.
Key Quotes
24-hour view: “We highlighted yesterday that ‘there is scope for EUR to advance further but a sustained rise above 1.0250 appears unlikely’. However, EUR did not threaten 1.0250 as it dropped from 1.0234 to 1.0112 before snapping back up to end the day little changed at 1.0196 (0.06%). The choppy price actions appear to be part of a consolidation phase and EUR is likely to trade between 1.0135 and 1.0235 for today.”
Next 1-3 weeks: “There is not much to add to our update from yesterday (28 Jul, spot at 1.0205). As highlighted, the current movement in EUR appears to be part of a consolidation and it is likely to trade between 1.0100 and 1.0285 for now.”
© 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
