UOB Group’s FX Strategists noted EUR/USD could face a deeper pullback of 1.2050 is cleared in the near-term. Key Quotes 24-hour view: “We highlighted last Friday that ‘downward pressure has eased’ and we expected EUR to ‘trade sideways within a 1.2085/1.2150 range’. EUR subsequently traded between 1.2092 and 1.2155 before closing slightly higher at 1.2136. While further sideway-trading would not be surprising, the weakened underlying tone suggests EUR could retest the 1.2090 level. The major support at 1.2050 is not expected to come into the picture. Resistance is at 1.2145 followed by 1.2160.” Next 1-3 weeks: “There is not much to add to our update from last Thursday (28 Jan, spot at 1.2105). As highlighted, ‘shorter-term downward momentum is improving and the risk is shifting to the downside’. That said, EUR has to close below 1.2050 before a sustained decline can be expected. The odds for such a move are quite high unless EUR moves above 1.2180. Looking ahead, the next support below 1.2050 is at 1.2000.” 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 Gold Futures: Gains look limited very near-term FX Street 1 year UOB Group’s FX Strategists noted EUR/USD could face a deeper pullback of 1.2050 is cleared in the near-term. Key Quotes 24-hour view: “We highlighted last Friday that ‘downward pressure has eased’ and we expected EUR to ‘trade sideways within a 1.2085/1.2150 range’. EUR subsequently traded between 1.2092 and 1.2155 before closing slightly higher at 1.2136. While further sideway-trading would not be surprising, the weakened underlying tone suggests EUR could retest the 1.2090 level. The major support at 1.2050 is not expected to come into the picture. Resistance is at 1.2145 followed by 1.2160.” Next 1-3 weeks: “There is not much… 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.
