- Analytics
- News and Tools
- Market News
- EUR/USD: Above 1.0610 EUR is likely to move towards 1.0650 – UOB Group
EUR/USD: Above 1.0610 EUR is likely to move towards 1.0650 – UOB Group
Further sideways trading in Euro (EUR) seems likely, probably between 1.0525 and 1.0585. In the longer run, EUR has to break and remain above 1.0610 before further advance to 1.0650 is likely, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note.
Further sideways trading in EUR seems likely
24-HOUR VIEW: “After EUR rose to 1.0629 last Friday, and then pulled back, we indicated yesterday that ‘upward pressure appears to have eased.’ We were of the view that EUR ‘may trade sideways between 1.0530 and 1.0590.’ Our view was not wrong, even though EUR traded in a slightly wider range of 1.0531/1.0594, closing at 1.0552 (-0.15%). Further sideways trading seems likely today, probably between 1.0525 and 1.0585.”
1-3 WEEKS VIEW: “Our update from last Friday (06 Dec, spot at 1.0585) remains valid. As indicated previously, EUR ‘has to break and remain above 1.0610 before further advance to 1.0650 is likely.’ On the downside, should EUR break below 1.0500 (no change in ‘strong support’ level), it would mean that the likelihood of EUR breaking clearly above 1.0610 has faded. Looking ahead, the next level to watch above 1.0610 is 1.0650.”
© 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
