FX Strategists at UOB Group remain bearish on EUR/USD and hinted at a potential move to 1.0770 and possibly below. Key Quotes 24-hour view: “After trading sideways for a couple of days, EUR lurched lower and dropped to 1.0784 before ending the day on a weak note at 1.0791 (- 0.40%). The sudden pick up in momentum suggests EUR has room to weaken further to 1.0770. For today, the prospect for a break of the next support at 1.0740 is not high. Resistance is at 1.0820 followed by 1.0840.” Next 1-3 weeks: “We highlighted on Monday (17 Feb, spot at 1.0840) that ‘the combination of waning momentum and oversold conditions suggest that a bottom may not be far away’. We added, ‘while a dip below 1.0810 would not be surprising, the next support at 1.0770 could be out of reach’. Instead of ‘dipping below 1.0810’, EUR plummeted below this level and dropped to a low of 1.0784 before ending the day on a weak note at 1.0791 (-0.40%). The sudden and rapid pick up in momentum suggests the weak phase that started earlier this month is not ready to stabilize just yet. Only a move above 1.0860 (‘strong resistance’ level previously at 1.0890) would indicate that the current weakness in EUR has run its course. Otherwise, a break of 1.0770 would open up the way for further decline towards 1.0740 (next support is at 1.0700).” 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 Cryptocurrency Market Update: Crypto bulls return as Bitcoin touches $10,200 FX Street 2 years FX Strategists at UOB Group remain bearish on EUR/USD and hinted at a potential move to 1.0770 and possibly below. Key Quotes 24-hour view: “After trading sideways for a couple of days, EUR lurched lower and dropped to 1.0784 before ending the day on a weak note at 1.0791 (- 0.40%). The sudden pick up in momentum suggests EUR has room to weaken further to 1.0770. For today, the prospect for a break of the next support at 1.0740 is not high. Resistance is at 1.0820 followed by 1.0840.” Next 1-3 weeks: “We highlighted on Monday (17 Feb, spot at… 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.