In opinion of FX Strategists at UOB Group, the pair’s downside pressure appears alleviated in the near term. Key Quotes 24-hour view: “Against our expectation for sideway trading, EUR rose to hit a high 1.1719 before ending the day on a strong note, The recovery has scope to extend higher but at this stage, a sustained move above the next resistance at 1.1750 seems unlikely (minor resistance is at 1.1720). On the downside, only a break of 1.1665 would indicate that the current upward pressure has eased (minor support is at 1.1685)”. Next 1-3 weeks: “EUR touched a high of 1.1719 yesterday, just one pip below the ‘key resistance’ at 1.1720. While the ‘key resistance’ is still intact, the relatively strong daily closing in NY (closed at 1.1704, +0.41%) is enough to indicate that the recent mild downward pressure has eased. However, there is no change to the neutral outlook and EUR is expected to trade sideways for now, likely within a broad 1.1620/1.1790 range (we previously expected EUR to dip towards 1.1570)”. 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 WTI looks vulnerable below $ 69.50, eyes on API data FX Street 5 years In opinion of FX Strategists at UOB Group, the pair's downside pressure appears alleviated in the near term. Key Quotes 24-hour view: "Against our expectation for sideway trading, EUR rose to hit a high 1.1719 before ending the day on a strong note, The recovery has scope to extend higher but at this stage, a sustained move above the next resistance at 1.1750 seems unlikely (minor resistance is at 1.1720). On the downside, only a break of 1.1665 would indicate that the current upward pressure has eased (minor support is at 1.1685)". Next 1-3 weeks: "EUR touched a high of… 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.
