- Analytics
- News and Tools
- Market News
- EUR/USD: A break above 1.1010 is needed – UOB Group
EUR/USD: A break above 1.1010 is needed – UOB Group
The Euro (EUR) is expected to consolidate between 1.0895 and 1.0960. EUR is still positive, but it has to surpass 1.1010 before further advance to 1.1070 can be expected, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann notes.
EUR to continue growing above 1.1010
24-HOUR VIEW: “Yesterday, we indicated ‘provided that EUR remains above 1.0910, it could retest the 1.1010 level before another pullback is likely.’ Our view was incorrect, as EUR pulled back directly to a low of 1.0902. EUR closed at 1.0930 (-0.20%). The current price action is likely part of a consolidation phase. Today, we expect EUR to trade between 1.0895 and 1.0960.”
1-3 WEEKS VIEW: “We indicated yesterday that EUR ‘is still positive, but it has to surpass 1.1010 before further advance to 1.1070 can be expected.’ We continue to hold the same view. On the downside, should EUR breach the ‘strong support’ at 1.0855 (no change in level from yesterday), it would mean that EUR is not ready to move above 1.1010.”
© 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
