FX Strategists at UOB Group now see EUR/USD slipping back to the 1.0965 level in the next weeks. Key Quotes 24-hour view: “While EUR dipped below the strong 1.1010 support level, there was not much of a follow-through as it rebounded from 1.1002 and traded sideways for rest of the sessions. Downward momentum appears to be struggling but only a move above 1.1035 would indicate that the current weakness has stabilized. Until then, EUR could continue to grind lower even though the month-to-date low near 1.0985 is not expected to come under threat”. Next 1-3 weeks: “In our update from early last Friday (22 Nov, spot at 1.1065), we highlighted “upward pressure has eased” and “EUR is likely to continue to trade sideways between 1.1010 and 1.1115 for a while more”. However, EUR subsequently dropped sharply on Friday before extending its decline yesterday (25 Nov) and dipped below the bottom of the expected range (low of 1.1002). Downward momentum has picked up, albeit not by much. From here, EUR could trade with a downward bias towards 1.0965 even though the month-to-date low is expected to provide decent support for the next few days. Resistance is at 1.1035 but only a move above 1.1065 would indicate the current mild downward pressure has eased”. 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 ECB’s Villeroy: Low rates will continue to support the economy FX Street 3 years FX Strategists at UOB Group now see EUR/USD slipping back to the 1.0965 level in the next weeks. Key Quotes 24-hour view: "While EUR dipped below the strong 1.1010 support level, there was not much of a follow-through as it rebounded from 1.1002 and traded sideways for rest of the sessions. Downward momentum appears to be struggling but only a move above 1.1035 would indicate that the current weakness has stabilized. Until then, EUR could continue to grind lower even though the month-to-date low near 1.0985 is not expected to come under threat". Next 1-3 weeks: "In our update from… 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.
