- Analytics
- News and Tools
- Market News
- EUR/USD: Likely to trade between 1.1085 and 1.1145 – UOB Group
EUR/USD: Likely to trade between 1.1085 and 1.1145 – UOB Group
The Euro (EUR) is likely to trade in a range, probably between 1.1085 and 1.1145. In the longer run, EUR is likely to continue to rise, but it is unclear if it has sufficient momentum to break above the y-t-d high, near 1.1200, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann note.
EUR to continue to rise in the longer run
24-HOUR VIEW: “We indicated yesterday that ‘there is scope for EUR to test 1.1155, but sustained break above this level seems unlikely.’ Our view did not materialise as EUR rose to 1.1146, pulling back to close at 1.1113 (-0.17%). The price action is likely part of a range trading phase, probably between 1.1085 and 1.1145.”
1-3 WEEKS VIEW: “Yesterday (17 Sep, spot at 1.1125), we highlighted that EUR “is likely to continue to rise, but it is unclear at this time if it has sufficient momentum to break above the year-to-date high, near 1.1200.” We will continue to hold the same view as long as 1.1040 (no change in ‘strong support’ level) remains intact.”
© 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
