In opinion of FX Strategists at UOB Group, EUR/USD has increased the probability of a deeper pullback to the 1.0945 level. Key Quotes 24-hour view: “We highlighted yesterday that ‘a breach of the solid 1.0980/90 support zone could potentially lead to a rapid drop to 1.0955’. While the anticipation for a breach of the support zone was not wrong, the subsequent decline did not quite reach 1.0955 (overnight low of 1.0963). The rapid drop appears to be overstretched but there is scope for EUR to test 1.0955 first before a recovery can be expected. Resistance is at 1.1000 followed by 1.1020.” Next 1-3 weeks: “We detected the pick-up in downward momentum yesterday (06 Feb, spot at 1.1000) and highlighted that ‘the solid 1.0980/90 support zone is vulnerable’. EUR subsequently cracked the support zone and dropped to a low of 1.0963. Downward momentum has improved further and from here, barring a move above 1.1040 (‘strong resistance’ was at 1.1055 yesterday), EUR is expected to move towards 1.0945. Looking ahead, the support below 1.0945 is at 1.0910.” FXStreet Indonesian Site – new domain!Access it at www.fxstreet-id.com 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: Still room for a move higher FX Street 2 years In opinion of FX Strategists at UOB Group, EUR/USD has increased the probability of a deeper pullback to the 1.0945 level. Key Quotes 24-hour view: “We highlighted yesterday that ‘a breach of the solid 1.0980/90 support zone could potentially lead to a rapid drop to 1.0955’. While the anticipation for a breach of the support zone was not wrong, the subsequent decline did not quite reach 1.0955 (overnight low of 1.0963). The rapid drop appears to be overstretched but there is scope for EUR to test 1.0955 first before a recovery can be expected. Resistance is at 1.1000 followed by… 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.
