FX Strategists at UOB Group noted that occasional bullish attempts in EUR/USD should meet a tough barrier in the 1.1180 region. Key Quotes 24-hour view: “Expectation for EUR strength to ‘move above 1.1115’ was incorrect as it dropped briefly to 1.1034 before recovering to end the day lower at 1.1058 (-0.32%). The movement is viewed as part of a consolidation phase. In other words, EUR is expected to trade sideways for today, likely between 1.1035 and 1.1085.” Next 1-3 weeks: “The rapid manner by which EUR gave up a large part of the strong gains from last Friday (31 Jan) came as a surprise (EUR lost -0.31% yesterday). For now, we are holding on to our view from yesterday (03 Feb, spot at 1.1090) wherein last week’s 1.0990 low is a short-term bottom and the current movement is viewed as a rebound that has scope to extend higher towards the solid resistance at 1.1180. However, a breach of 1.1015 (no change in ‘strong support’ level) would indicate that our expectation for a rebound is premature.” 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 Bitcoin SV splits in two chains; BSV/USD stays in the range so far FX Street 2 years FX Strategists at UOB Group noted that occasional bullish attempts in EUR/USD should meet a tough barrier in the 1.1180 region. Key Quotes 24-hour view: “Expectation for EUR strength to ‘move above 1.1115’ was incorrect as it dropped briefly to 1.1034 before recovering to end the day lower at 1.1058 (-0.32%). The movement is viewed as part of a consolidation phase. In other words, EUR is expected to trade sideways for today, likely between 1.1035 and 1.1085.” Next 1-3 weeks: “The rapid manner by which EUR gave up a large part of the strong gains from last Friday (31 Jan)… 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.
