In opinion of FX Strategists at UOB Group, EUR/USD seems to have lost some upside pressure. Key Quotes 24-hour view: “While our view for EUR to “edge higher towards 1.1095″ was correct (high of 1.1096), the subsequent sharp and swift pull-back from the top was not expected. The rapid decline appears to be running ahead of itself but there is room for EUR to test 1.1040 first before the weakness should stabilize (next support is at 1.1010). Resistance is at 1.1080 followed by 1.1095. The latter level is acting as a solid resistance now”. Next 1-3 weeks: “EUR touched a 2-week high of 1.1096 before dropping back quickly to end the day lower by -0.13% (1.1057). While the ‘strong support’ level at 1.1040 is still intact, the soft daily closing is enough to indicate that the recent mild upward pressure has eased. In other words, EUR is likely to continue to trade sideways between 1.1010 and 1.11115 for a while more (we previously expected EUR to trade sideways with an upside bias)”. 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 ready to crash to $1,000 – Peter Schiff FX Street 3 years In opinion of FX Strategists at UOB Group, EUR/USD seems to have lost some upside pressure. Key Quotes 24-hour view: "While our view for EUR to "edge higher towards 1.1095" was correct (high of 1.1096), the subsequent sharp and swift pull-back from the top was not expected. The rapid decline appears to be running ahead of itself but there is room for EUR to test 1.1040 first before the weakness should stabilize (next support is at 1.1010). Resistance is at 1.1080 followed by 1.1095. The latter level is acting as a solid resistance now". Next 1-3 weeks: "EUR touched a… 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.
