FX Strategists at UOB Group now expect EUR/USD to trade within a 1.0950/1.1060 range in the next weeks. Key Quotes 24-hour view: “While we indicated yesterday that there is “scope for advance in EUR to extend further”, we held the view “overbought conditions could ‘limit’ gains to 1.1080″. EUR subsequently touched 1.1084 before staging a surprisingly rapid and sharp pull-back. The pull-back amidst overbought conditions suggests 1.1084 could be a temporary top. That said, it is premature to expect a sustained decline. EUR is more likely to trade sideways to slightly lower, expected to be within a 1.0995/1.1060 range”. Next 1-3 weeks: “EUR tested the minor 1.1080 resistance (high of 1.1084) before dropping back quickly to end the day unchanged at 1.1033. The price action bolstered our view from yesterday (05 Sep, spot at 1.1035) wherein the current movement is viewed as the “early stages of a consolidation phase”. In other words, we continue to expect EUR to trade sideways between 1.0950 and 1.1110″. 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 Australia: Economy held up by net exports and government spending – ANZ FX Street 4 years FX Strategists at UOB Group now expect EUR/USD to trade within a 1.0950/1.1060 range in the next weeks. Key Quotes 24-hour view: "While we indicated yesterday that there is "scope for advance in EUR to extend further", we held the view "overbought conditions could 'limit' gains to 1.1080". EUR subsequently touched 1.1084 before staging a surprisingly rapid and sharp pull-back. The pull-back amidst overbought conditions suggests 1.1084 could be a temporary top. That said, it is premature to expect a sustained decline. EUR is more likely to trade sideways to slightly lower, expected to be within a 1.0995/1.1060 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.
