FX Strategists at UOB Group expect EUR/USD to extend the ongoing consolidation for the time being. Key Quotes 24-hour view: “Our view for EUR yesterday was that it “could edge higher towards 1.1075″ but we noted “the next resistance at 1.1100 is unlikely to come into the picture”. EUR subsequently rose and touched 1.1090 before easing off. The advance appears to be running ahead of itself and further sustained rise in EUR is not expected for today. That said, a retest of 1.1090 is not ruled out but any up-move is viewed as part of a higher 1.1050/1.1090 range”. Next 1-3 weeks: “There is not much to add to the update from yesterday (18 Nov, spot at 1.1055). As highlighted, the recent weak phase has ended and the “near-term bias on the upside”. For now, we continue to view any advance as part of a 1.1010/1.1115 sideway-trading range even though the prospect for a sustained rise above 1.1115 has increased. All in, the current mild upward pressure is expected to remain intact unless EUR drops back below 1.1030 within these few days”. 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 PBoC’s Yi: Will continue to push real lending rates lower FX Street 3 years FX Strategists at UOB Group expect EUR/USD to extend the ongoing consolidation for the time being. Key Quotes 24-hour view: "Our view for EUR yesterday was that it "could edge higher towards 1.1075" but we noted "the next resistance at 1.1100 is unlikely to come into the picture". EUR subsequently rose and touched 1.1090 before easing off. The advance appears to be running ahead of itself and further sustained rise in EUR is not expected for today. That said, a retest of 1.1090 is not ruled out but any up-move is viewed as part of a higher 1.1050/1.1090 range". Next… 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.
