FX Strategists at UOB Group noted further gains are expected in EUR/USD once the 1.2000/10 band is cleared. Key Quotes 24-hour view: “We expected EUR to ‘trade sideways between 1.1935 and 1.1985’ last Friday. However, EUR traded within a higher range than expected (1.1949/1.1994). Further sideway-trading would not be surprising even though the weakened underlying tone suggests a lower trading range of 1.1935/1.1985.” Next 1-3 weeks: “Our latest narrative was from last Thursday (15 Apr, spot at 1.1980) where we highlighted that ‘overbought shorter-term conditions could slow the pace of advance but a break of 1.2010 would not be surprising’. However, 1.2010 remains intact as EUR struggled to move above 1.2000 for the past couple of days. Conditions remain overbought and upward momentum is beginning to wane. Unless EUR breaks clearly above 1.2000/1.2010 within these couple of days, the chance or further EUR strength would diminish quickly. Conversely, a breach of 1.1915 (no change in ‘strong support’ level) would indicate that the EUR strength that started about 2 weeks ago has come to an end.” 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 Asian Stock Market: Covid woes spoil the run-up to track Wall Street gains FX Street 1 year FX Strategists at UOB Group noted further gains are expected in EUR/USD once the 1.2000/10 band is cleared. Key Quotes 24-hour view: "We expected EUR to 'trade sideways between 1.1935 and 1.1985' last Friday. However, EUR traded within a higher range than expected (1.1949/1.1994). Further sideway-trading would not be surprising even though the weakened underlying tone suggests a lower trading range of 1.1935/1.1985." Next 1-3 weeks: "Our latest narrative was from last Thursday (15 Apr, spot at 1.1980) where we highlighted that 'overbought shorter-term conditions could slow the pace of advance but a break of 1.2010 would not be surprising'.… 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.
