FX Strategists at UOB Group noted EUR/USD needs to surpass 1.1190 in the very near-term in order to allow for a move to 1.1200 and beyond. Key Quotes 24-hour view: “Expectation for EUR to ‘move above the overnight high of 1.1212’ was incorrect EUR dropped to 1.1093 before recovering. Tuesday’s (03 Mar) peak of 1.1212 is viewed as a short-term top and the current movement is likely the early stages of a consolidation phase. In other words, EUR is expected to trade sideways for today, expected to be within a 1.1080/1.1170 range.” Next 1-3 weeks: “We have held a positive view in EUR since early last week and our latest narrative from Tuesday (03 Mar, spot at 1.1145) was that EUR ‘is likely to take a breather and consolidate for a couple of days before making a move to the late Dec high of 1.1239’. For now, there is no change to our view even though shorter-term momentum is beginning to wane and unless EUR can move and stay above 1.1190 within these 1 to 2 days, the odds for a move to 1.1239 would diminish quickly. Conversely, a break of 1.1050 (no change in ‘strong support’ level) would suggest that the powerful rally has run its course.” 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 Ethereum Price Analysis: ETH/USD bulls push the price above $233.00, next target at $245.70 FX Street 3 years FX Strategists at UOB Group noted EUR/USD needs to surpass 1.1190 in the very near-term in order to allow for a move to 1.1200 and beyond. Key Quotes 24-hour view: “Expectation for EUR to ‘move above the overnight high of 1.1212’ was incorrect EUR dropped to 1.1093 before recovering. Tuesday’s (03 Mar) peak of 1.1212 is viewed as a short-term top and the current movement is likely the early stages of a consolidation phase. In other words, EUR is expected to trade sideways for today, expected to be within a 1.1080/1.1170 range.” Next 1-3 weeks: “We have held a positive… 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.