Spot could break above the 1.1700 handle in the next weeks and advance to the 1.1730 region, suggested FX Strategists at UOB Group. Key Quotes 24-hour view: “Expectation for EUR to test the strong 1.1730 resistance last Friday did not materialize as it eased off quickly after touching a high of 1.1717. Upward pressure has clearly eased and the current movement is viewed as part of a consolidation phase. In other words, we expect EUR to trade sideways from here, likely within a 1.1630/1.1700 range”. Next 1-3 weeks: “The ‘stop-loss’ for our bearish view at 1.1730 remains intact as EUR eased off after touching a high of 1.1717 last Friday. However, as highlighted in recent updates, the odds for EUR weakness have diminished. The current short-term consolidation phase appears to be more akin to a ‘basing process’ (for a recovery) instead of a preparing for further sustained weakness. In order to revive the current flagging downward momentum, EUR has to move and stay below of 1.1600 soon or a break of 1.1730 would not surprise at all”. 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 China’s ForeignMin: Door to trade talks with the US is open FX Street 5 years Spot could break above the 1.1700 handle in the next weeks and advance to the 1.1730 region, suggested FX Strategists at UOB Group. Key Quotes 24-hour view: "Expectation for EUR to test the strong 1.1730 resistance last Friday did not materialize as it eased off quickly after touching a high of 1.1717. Upward pressure has clearly eased and the current movement is viewed as part of a consolidation phase. In other words, we expect EUR to trade sideways from here, likely within a 1.1630/1.1700 range". Next 1-3 weeks: "The 'stop-loss' for our bearish view at 1.1730 remains intact as EUR… 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.
