In view of FX Strategists at UOB Group, if EUR/USD closes above 1.1050 on a daily basis, it could then attempt a move towards 1.11 and above. Key Quotes 24-hour view: “EUR traded between 1.1011 and 1.1048 yesterday, narrower than our expected sideway-trading range of 1.0990/1.1050. The price action is still viewed as part of a consolidation phase and EUR is expected to continue to trade sideways for today, likely within a 1.1000 and 1.1050 range”. Next 1-3 weeks: “After two straight days of strong gains, EUR traded sideways and registered an ‘inside day’. The price action was not exactly surprising as we indicated yesterday (14 Oct, spot at 1.1025) that “shorter-term indicators are overbought and from here, we will ‘upgrade’ the current positive call for EUR further only if it can close above 1.1050″. The odds for a NY closing above 1.1050 still appears to be better than even but EUR could ill afford to dither around current levels as a prolonged consolidation amidst the current overbought conditions would quickly increase the risk of a short-term top. In other words, EUR has to move clearly above 1.1050 within these 1 to 2 days or a break of 1.0970 (no change in ‘strong support’ level) would not be surprising. Looking ahead, a break of 1.0970 would indicate that EUR has moved back into a consolidation phase”. 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 Gold consolidates in a range below $1500 mark FX Street 4 years In view of FX Strategists at UOB Group, if EUR/USD closes above 1.1050 on a daily basis, it could then attempt a move towards 1.11 and above. Key Quotes 24-hour view: "EUR traded between 1.1011 and 1.1048 yesterday, narrower than our expected sideway-trading range of 1.0990/1.1050. The price action is still viewed as part of a consolidation phase and EUR is expected to continue to trade sideways for today, likely within a 1.1000 and 1.1050 range". Next 1-3 weeks: "After two straight days of strong gains, EUR traded sideways and registered an 'inside day'. The price action was not exactly… 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.