EUR/USD: Diminishing bets for a drop to 1.0600 – UOB – by pabspiovano EURUSD Currencies Majors Banks
UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang suggest a potential drop in24-hour view: “Our view for EUR to strengthen yesterday was incorrect as it dropped to 1.0633 and then rebounded quickly to end the day at 1.0688 . The rebound in severely oversold conditions suggests EUR is unlikely to weaken further. Today, EUR is more likely to trade sideways in a range between 1.0655 and 1.0725.
Next 1-3 weeks: “Yesterday , we indicated that the 3-week EUR weakness has stabilized and we held the view that it ‘is likely to trade in a range of 1.0670/1.0820 for the time being’. However, EUR fell to a fresh two-month low of 1.0633. While the price actions suggest our call for stabilization is premature, there is no significant improvement in downward momentum and the chance for EUR to drop further to 1.0600 is low. On the upside, a breach of 1.0750 would suggest 1.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
EUR/USD now appears within a consolidative range – UOBEconomist Lee Sue Ann and Markets Strategist Quek Ser Leang expect EUR/USD to trade within the 1.0670-1.0820 range in the next weeks. Key Quotes 24-ho
Les mer »
EUR/USD may be gently making its way to the March lows at 1.0515/0530 – INGEconomists at ING discuss EUR/USD outlook for the day ahead. Deteriorated Eurozone’s data to keep EUR/USD on the soft side “EUR/USD has quietly slippe
Les mer »
EUR/USD accelerates losses below 1.0700 ahead of dataThe European currency remains well on the defensive and dragged EUR/USD to new lows in the 1.0670 region on Tuesday. EUR/USD weakens on USD-buying EUR
Les mer »
EUR/USD: Potential for moderate gains over the medium term – Wells FargoEconomists at Wells Fargo discuss EUR/USD outlook. Moderate gains in the Euro “We see potential for moderate gains in the Euro over the medium term. W
Les mer »
EUR/USD Forex Signal: 1.1650 is the Next Price to WatchThe EUR/USD pair was little changed on Monday amid low liquidity since US markets were closed for the Memorial Day weekend.
Les mer »
EUR/USD Price Analysis: Upside mitigated above 1.0830EUR/USD manages to regain some buying interest soon after bottoming out in new 10-week lows near 1.0670 on turnaround Tuesday. The pair remains under
Les mer »