FX Strategists at UOB Group expect the pair to grind lower although 1.10 is seen as a tough support. Key Quotes 24-hour view: “The breach of the solid support at 1.1100 followed by a daily close below that level overnight has clearly negated the “slightly positive” underlying tone expected yesterday. From here, downside momentum will gradually build and we could see a test of overnight low of 1.1058. Support is at 1.1030 while resistance is 1.1090 then 1.1110″. Next 1-3 weeks: “After the clear break of 1.1100 overnight, EUR is likely to have rekindled its downside momentum. It is now expected to trade with a ‘downside bias’. That said, it is unlikely to accelerate downwards just yet. Strong support is expected at 1.1050 then 1.1000 with the latter unlikely to yield so easily. On the topside, we expect resistance at 1.1075 and 1.1100. Only a move above 1.1100 would negate the ‘downside bias’ and indicate that the recent weakness in EUR has stabilized”. 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 FOMC review: Mid-cycle adjustment without pre-commitment – Danske Bank FX Street 4 years FX Strategists at UOB Group expect the pair to grind lower although 1.10 is seen as a tough support. Key Quotes 24-hour view: "The breach of the solid support at 1.1100 followed by a daily close below that level overnight has clearly negated the "slightly positive" underlying tone expected yesterday. From here, downside momentum will gradually build and we could see a test of overnight low of 1.1058. Support is at 1.1030 while resistance is 1.1090 then 1.1110". Next 1-3 weeks: "After the clear break of 1.1100 overnight, EUR is likely to have rekindled its downside momentum. It is now… 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.
