FX Strategists at UOB Group still remain neutral on EUR/USD, expecting it to keep the rangebound theme intact in the short-term horizon. Key Quotes 24-hour view: “Expectation for sideway trading was incorrect as EUR rebounded to a high of 1.1067 before easing off to end the day slightly higher at 1.1047 (+0.17%). Upward momentum has improved slightly and this could lead to EUR edging higher towards last week’s top near 1.1085. For today, a sustained rise above this level is not expected (next resistance is at 1.1110). On the downside, only a move below 1.1015 would indicate the current mild upward pressure has eased (minor support at 1.1030)”. Next 1-3 weeks: “EUR rebounded and closed slightly higher yesterday (1.1047, +0.17%). The price action offers no fresh clues and we continue to hold on to our view from last Thursday (05 Sep, spot at 1.1035) wherein EUR is “expected to trade sideways”. While the immediate bias appears to be tilted the upside, any advance is likely limited to a test of the top of the expected 1.0980/1.1110 sideway trading range (narrowed from 1.0950/1.1110 previously)”. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Forex Today: China factory deflation offsets trade optimism, UK jobs in focus FX Street 4 years FX Strategists at UOB Group still remain neutral on EUR/USD, expecting it to keep the rangebound theme intact in the short-term horizon. Key Quotes 24-hour view: "Expectation for sideway trading was incorrect as EUR rebounded to a high of 1.1067 before easing off to end the day slightly higher at 1.1047 (+0.17%). Upward momentum has improved slightly and this could lead to EUR edging higher towards last week's top near 1.1085. For today, a sustained rise above this level is not expected (next resistance is at 1.1110). On the downside, only a move below 1.1015 would indicate the current mild… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
